American Airlines is turning aggressively to the downside since the start of the year and has also overlaped the 14 level, which we discussed in our previous updates. This overlap suggests that the impulsive sequence in black wave C, has likely ended, and that the higher degree seven-wave W-X-Y correction from the April 2025 lows may be complete. The current decline looks quite aggressive and broke out of a channel, but it could be finishing a projected wave (C) of a three-wave (A)(B)(C) decline into wave D at 10-9 area. So, be aware of a new recovery within wave E soon, which can recover the price back to the 13-15 area.
Highlights:
• Wave (C) of D in the final stages
• Lower triangle line can act as a support near 10-9
• Beware of new wave E recovery
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