| Sector Wrap Up - Arlines Higher: GOL, TAM, DAL |
| Written by Christian Paolinetti |
| Thursday, 29 July 2010 17:02 |
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Gol Linhas Aereas Inteligentes (NYSE:GOL) was the top performer of the sector today closing at $13.68 representing 3.17%. versus the previous trading session. Shares of Gol Linhas Aereas Inteligentes, the low fare Brazilian domestic airline have defined support at $12.65 and resistance at $13.92. Tam (NYSE:TAM) was also among the top performers, closed the trading session at $16.49 representing 1.79% from its previous close. Tam, the Brazil based airline has calculated support and resistance levels at $15.3 and $16.45 respectively. The other top performer was Delta (NYSE:DAL), which closed the trading session at $11.69 representing 1.3% from the previous trading session. The sector's worst performers include Lan Airlines (NYSE:LFL) that closed the trading session at $22.72 or -1.09% from the previous close. Shares of Lan Airlines, the Chilean based airline have defined support at $18.14 and resistance at $23.3. Also among the worst performers was JetBlue Airways (NASDAQ:JBLU), which closed the trading session at $6.33 representing -0.47% from the previous trading session. Benchmark crude for September delivery was higher closing the trading session at $78.21 a barrel on the New York Mercantile Exchange higher by $1.22 from the previous trading session. Crude prices are closely watched by traders as they usually correlate with the airline stocks, given that a big component of the airlines' cost structure is covered by the price of fuel. |
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New York, July 29th (TradersHuddle.com) - The NYSE Airline index ended the session higher by closing at $40.42, which represents 0.36% versus previous day close.
The airline index was mixed with a slight upside bias with 8 out of 13 airlines trading higher.