PDA

View Full Version : easyJet plc (LON:EZJ) Technical Analysis



H4XoR
11-06-2022, 11:47 AM
EZJ share price closed at 452.2p on Friday 10 June, 2022.

The last time the SP was at that level was 9 November, 2020.

Its lowest price in the last three years was on 16 March, 2020 at 345.20p.

Here’s the technical analysis on a weekly chart (for newbies, a weekly chart means each price candle represents one week)

The support line on the bottom is at the low 345.2p (16 March, 2020 low).

The resistance line is set at 921.9p (4 May, 2021 high).

I’ve set a Fibonacci retracement from 16 March, 2020 lows to the 4 May, 2021 high.

I’ve set two Gann Fans from the 9 November, 2020 bottom, one to show upward resistance levels and one for downward support levels. Fridays price broke the 4/1 support Gann level so the next support is 345.2p, unless it catches a
bounce on Monday and gets back above the 4/1 support Gann level.

You can see the closing price on Friday has also dropped below the 0.786 Fib line. The 0.786 Fib line is where I always like to set buy orders. I would have bought one tranche at the closing bell on Friday, based on the technicals at around 453p and set another buy limit order at 415p. I’d add a third buy limit order at 346p to try and catch an absolute bottom price.

The technicals are showing the stock as oversold and due a bounce within the next week or two.

Sandbar Asset Management LLP has been adding to their short position on EZJ, they are currently shorting 0.92% of the stock. They increased their position by 0.03% on 7 June.

However, at these levels, I wouldn’t be surprised to see a short squeeze coming soon.
https://www.satpimps.co.uk/attachment.php?attachmentid=69606&d=1654944402