Airline Stocks Trade Higher
This morning, the leading airline stocks are trading slightly higher on the session. The catalyst for the small move higher in the leading airline stocks is due to the falling price of crude. When oil declines the airline stocks have a tendency to catch a bid and bounce.
U.S. Airways Group Inc (NYSE:LCC) is trading higher by 0.20 cents to $5.39 a share. Short term traders can look for intra-day resistance around the $5.50 area. The daily chart on LCC stock is holding up fine, however, there is a lot of resistance around the $5.80 level. Therefore, the upside is limited at this time.
Other leading airline stocks that are trading higher today include Delta Air Lines Inc (NYSE:DAL), Southwest Airlines Co (NYSE:LUV), and United Continental Holdings Inc (NYSE:UAL). The upside could be limited on the daily charts for all of these stocks at this time. Should oil bounce or rally higher it would be prudent to expect the airline stocks to pullback or consolidate.