The Canadian Technician

Canadian Airlines Start To Soar With The US Airlines


Air Canada (AC.TO) has been flying (not good to say an airline is 'on fire'), but the other airlines are starting to get the memo. Looking through all of the Canadian airlines, the group looks ready to push higher. Not just one winner, but five winners. The US Airlines have been breaking out too.

Let's start with Air Canada's leadership (AC.TO).

The next player is Westjet (WJA.TO). Westjet broke out to a new high today and broke through a long line of resistance recently.

Chorus Aviation (CHR.TO) has been gently making higher highs for a while.

Cargojet Aviation (CJT.TO) hasn't quite taken off, but its not unusual for airlines to leave an airport one at a time. This one looks like its ready to spark upward as well.

Air Transat's (TRZ.TO) chart is dramatically weaker but it looks like investors are trying to turn it up by bouncing it off the 200 DMA.

So the airlines are doing well all over North America. The charts look great and look to be a wonderful part of a portfolio for the second half. Of course as Carl Swenlin says, Technical Analysis is a windsock not a crystal ball. It looks like the stocks are all taking off. We'll see if the arrivals lounge is as nice as the departure lounge.

I'll be posting a Canadian Technician Video Recording this week. There are a lot of clues pointing to a massive trend change.  If this plays out, we'll be enjoying a spectacular second half. Please look for it on my Vimeo Channel if your looking for a complete explanation of the setup.  

Good trading,
Greg Schnell, CMT, MFTA.


Announcement from the Author

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Greg Schnell
About the author: , CMT, is a Senior Technical Analyst at specializing in intermarket and commodities analysis. Based in Calgary, he is a board member of the Canadian Society of Technical Analysts (CSTA) and the chairman of the CSTA Calgary chapter. He is an active member of both the Market Technicians Association (MTA) and the International Federation of Technical Analysts (IFTA).

Greg is also the co-author of Stock Charts for Dummies (Wiley, 2018). Greg joined in 2012 and has be instrumental in helping launch a variety of new blogs and other commentary platforms. Presently, Greg contributes market analysis commentary to The Canadian Technician, Commodities Countdown and Don't Ignore This Chart blogs. Learn More
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