Airlines Stocks Descend
Airline stocks are coming under pressure this morning after the large spike higher in oil. Airline stocks are particularly sensitive to crude and energy prices.
Delta Air Lines Inc.(NYSE:DAL) is one of the largest passenger carriers in the world. The stock is declining lower by 0.80 cents this morning to $10.68 a share. The stock will have short term intra-day support around the $10.50 level. The next important daily chart support level for Delta stock will be around the $10.00 level.
AMR Corp.(NYSE:AMR) is the parent company of American Airlines. This stock continues to hold the $7.00 level on the daily chart. The next important daily chart support for AMR stock will be around the $6.50 level. Intra-day the stock will have some minor support around the $6.85 area.
United Continental Holdings Corp.(NYSE:UAL) is declining lower today by $1.71 to $25.24 a share. The stock will have some short term intra-day support around the $24.67 area. The daily chart will not have important support until the stock reaches the $24.00 area.
Should oil pullback or decline from its highs this could help the airline stocks catch an intra-day bid. High oil at this time is dictating most of the pressure in the airline sector.