Air Canada Corporation weekly uptrend opportunity based On 1.00 Lot Calculation:
- Air Canada is Canada’s largest commercial airline. It offers passengers over 200 destinations around the globe. It is also Canada’s largest provider of Air Cargo. It generates 30% of its revenue from domestic operations.
- Air Canada, like other travel related companies has suffered the last year due to the pandemic and associated economic disruptions. But air travel traffic is now on the rise in North America and many customers are booking in advance for the summer holiday season.
- Air Canada has been in talks with the Canadian Government for some time and has now met its conditions for a bailout, including restarting routes, protecting the public interest of Canadians, and committing to lower greenhouse gas emissions. The bailout funds will help support Air Canada until business is back to normal.
- Event: Air Canada is expected to report 1st Quarter Earnings of 2021 on May 4th, 2021.
- STOCK PRICE ACTION: Air Canada’s stock price is 50% below its pre-pandemic high and is in a strong technical position to potentially move higher in the short term.
Air Canada, (#AIRCANADA) March 25, 2021
Current Price: 26.50
Air Canada |
Weekly |
Trend direction |
|
34.50 |
|
32.00 |
|
29.50 |
|
24.00 |
|
22.00 |
|
20.00 |
Example of calculation base on weekly trend direction for 1.00 Lot*
Air Canada |
||||||
Pivot Points |
||||||
Profit or loss in $ |
63,704.41 |
43,796.78 |
23,889.15 |
-19,907.63 |
-35,833.73 |
-51,759.83 |
Profit or loss in €** |
53,913.69 |
37,065.66 |
20,217.63 |
-16,848.03 |
-30,326.45 |
-43,804.87 |
Profit or loss in £** |
46,426.71 |
31,918.36 |
17,410.02 |
-14,508.35 |
-26,115.02 |
-37,721.70 |
Profit or loss in C$** |
80,000.00 |
55,000.00 |
30,000.00 |
-25,000.00 |
-45,000.00 |
-65,000.00 |
* 1.00 lot is equivalent of 10000 units
** Calculations for exchange rate used as of 10:28 (GMT) 25/03/2021
Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Client Manager regarding their use.
*** You may wish to consider closing your position in profit, even if it is lower than suggested one
**** Trailing stop technique can protect the profit – Ask your Client Manager for more details