Stock Chart Analysis AMR

Posted by downtowntrader | 5/28/2007 09:12:00 PM | 0 comments »

Stock Chart Analysis AMR

AMR Corporation (Public, NYSE:AMR)

AMR has been under distribution for about three months now, consistently making lower lows and lower highs. It has been grinding out a little base for the past month or so, but is running right into some stiff resistance. While it may continue to move higher and make a run at the 200 sma, there is a chance it falls right here at the down trendline. I have a feeling that this stock will go as the near term market goes. If the markets start to pullback this week, the I think this attempted W bottom will fail and AMR will break to new lows.

Good Trading,


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