Monday, November 27, 2006

Short Scalp: AMR (NYSE: AMR) has overextended spike ...

AMR charts, as well as airlines in general, appear overextended here in the short-term. Short was initiated on (NYSE: AMR) @ 33.75. Look for lower target at 32.70 area of support.
15 min chart MACD has diverged lower while daily price action suggests overextended action.