AL Testing Final Support Level Above 200 MA

Trade Background:

Price has been in a downward trend since the start of this year. This is due to the market pricing in less demand in flying due to the corona virus. For this reason price has fallen to key support just above 200 MA. Look for a swing to the topside of the trend as market sentiment recovers. Cut loss if price consolidates below 200 MA.

Chart:

AL Testing Final Support Level Above 200 MA by EmpowerTrader on TradingView.com

Trade Idea:

Entry: 42.50 to 44.00
Stop loss: 42.00
Exit: 50.00 or 52.00

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