Easyjet forms a bullish counterattack line

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By :  ,  Financial Analyst

easyJet forms a bullish counterattack line

easyJet, the low-cost airline, said it has signed an agreement with Airbus to defer the delivery of aircraft scheduled for fiscal years 2022-2024. As a result, the 22 aircraft scheduled for delivery between 2022 and 2024 will be delivered for 2027-2028 and 15 delivery dates will be changed for the period 2022-2024.

From a chartist point of view, the stock price has landed on its rising 50DMA and is posting a rebound. A bullish counterattack line has formed and may indicate a bullish trend reversal on a short term basis. As long as 670p is support, expect a rebound towards the key resistance at 930p. The medium term outlook remains Neutral between 460p and 930p. 

Source: GAIN Capital, TradingView

Related tags: Equities

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