AAL Stock Price Surged More Than 11% YTD: Analysis

• AAL stock soared nearly 2% and closed at $14.35 in the trading session of March 29, Wednesday.
• AAL stock opened at $14.18, marked a high at $14.39, and low at $14.06, during yesterday’s trading session.
• American Airlines stock noted 11.15% of surge in its year-to-date (YTD) price, but 8.83% in the last 1-month.

American Airlines (AAL) stock traded between the price range of $14.06 and $14.23, and the trading volume in stock was less active than usual. Till now, nearly 788k shares have been traded compared to average volume of 20.90 million shares. Wall Street analysts have set their outlook for AAL stock for the upcoming 1-year. According to them, the stock can surge 25.87% in 1 year, while sharing an average rating of “hold.”

American Airlines Group Inc. (NASDAQ: AAL) is a publicly traded airline holding company based in Texas. The company was formed by the merger of AMR Corporation, and U.S. Airways Group. Similar industry stocks, such as JetBlue Airways Corporation (NASDAQ: JBLU) and Alaska Air Group, Inc. (NYSE: ALK) noted more than 2% gain in the recent 24-hours.

According to a report by Forbes which was published on March 29, “American Airlines (AAL) stocks and its peer Delta Air Lines stock (NYSE: DAL) will likely offer the same returns in upcoming 3-years.”

According to Yahoo Finance, the major shareholders of American Airlines Group are from Institutions and All Insider, who held 55.53% and 1.20% of shares, respectively. The top-3 Institutional holders of this airline company are Vanguard Group Inc. (The); Primecap Management Company; and Blackrock Inc. These institutions held 11.20%, 5.85%, and 5.47% of AAL shares, respectively.

AAL Stock Price Analysis

American Airlines stock marked its 52-week low at $11.65, while its 52-week high was $21.42. According to data from Tradingview, the price performance of AAL stock trading is below its 20-day EMA. AAL stock’s 20-day EMA is at the level of $14.60, while its 50-day and 200-day EMA is nearing the $15.00 level. The RSI of the stock is at 43.55 and moving upward.

According to this week’s AAL stock price performance, it showed a bullish trend. If this continues, the airline stock could surge towards its 20-day EMA and also break its immediate resistance level.

Analysts have set their price target at $17.77, which is 23.81% up from its previous closing price. They are offering 1-year forecasts for American Airlines Group having a max estimate of $26.00 and a min estimate of $8.00.

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.

Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.

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