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On 30/07/2022 at 23:34, Luislisboa said:

will easyjet keep fall 

 

 

Technical outlook for easyJet

easyJet's share price declined by around 38% year-to-date compared to Ryanair’s 31% and in early July fell to 338.2p, to a level last seen in March 2012, and thus below its pandemic low.

easyJet monthly chart
Source: TradingView and ProRealTime

 

Since the recovery from the 338.2p low looks like an Elliott wave A, B, C zigzag correction, and, as such, is corrective in nature, the odds favour a continuation in the easyJet share price’s descent as long as no unexpected bullish reversal takes it above the 21 June high at 448.6p.

A drop below the 338.2p recent low would target the psychological 300p mark and perhaps even the April and July 2011 lows at 268.5p to 252.7p.

 

easyJet daily chart
Source: TradingView and ProRealTime
 
Axel Rudolph | Market Analyst, London
26 July 2022
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