On a quiet day today just a quick update on Easyjet (EZJ) which I have written up in the past. Today they have put out one of their regular traffic stats announcements which show passengers up 6 to 7% or so over the last 12 months and in May this year, while the load factors were between 91.2% and 91.6% over the same time periods. These are not that significant but at least they continue to move in the right direction.
Last time I commented on this one I suggested that it might be interesting in the 1550p to 1600p range which might offer some support, with 1570p being the 50% retracement of their rise over the last year and which often acts as a strong support. Their most recent update was not that well received and led to some downgrades to earnings which has sent the share down into this price range and they did see a recent intra day low of 1574p.
I also note that the downward momentum or loss of altitude in this case is slowing and there is positive divergence on the RSI (lower price not matched by a lower RSI). This is often a precursor to a bounce or a turnaround and I not the gap on the chart around 1800p. So given that this is a volatile share, but it seems to be in a support area, I think this might be a good point to get your boarding card and get on board for a trade on the Easyjet <1600p flight to 1800p - perhaps.
Finally here is a short video about the most efficient way of getting people on board a plane. It turns out that the low cost airlines...no I won't spoil it for you bon voyage.