Morning chart- UAL back to breakout area!

Hello Everyone,

UAL has traded back down to it's breakout area of around 68.

Holding just above the 50 ma this stock could move up again as oil falls.

Oil is down this morning -1.89 per barrel which could give this stock a short term pop.

Moderate IV would suggest  that a call debit spread may be considered here or a  call position.

(charts courtesy of Free stock charts)

VIX   7%   ABOVE 10              RSI 40.45  NEUTRAL


Put/Call ratio .54     Above 1.20 Bullish, Below .40 bearish.

ADP Employment report 8:15 am

Earnings out today: ALL,CLX,GM,RL,WHR,YUM

Dow Futures: -18 points       Oil: 51.25 -1.81   per barrel

Have a great trading day.

Posted to Stock & Option Scout on Feb 04, 2015 — 8:02 AM

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