Bears Appeared - Lan Airlines

Published on Friday, 18 November 2011 05:00 Written by Danny Miller

New York, November 18th (TradersHuddle.com) - Shares of Lan Airlines S.A. (NYSE:LFL) ended the trading session lower by $0.63 or -2.59% from its previous close. Lan Airlines' price action formed what is considered to be a bearish engulfing candlestick chart pattern.

Lan Airlines S.A. (NYSE:LFL) provides domestic and international passenger and cargo air services. The Company operates in Chile, the United States, the South Pacific, Europe, and Latin America.

Lan Airlines' current stock range is defined by calculated support defined at $23.79 and by the resistance level at $25.34, which should be used by traders planning their trades.

Traders wanting to establish a position in Lan Airlines stock need to pay close attention at the bearish engulfing pattern, since it could mark a trend reversal to current Lan Airlines shares price action. The Bearish engulfing pattern is a leading warning sign, therefore traders should closely monitor price action for indications of a trend reversal. Below an Engulfing Bearish Candle Illustration: