United Airlines lines (NYSE: UAL) is looking very attractive at the current price and has bottomed on a daily chart. While the stock still poses risk and can still sink lower on upcoming news and market direction, odds of it happening are slim. Initiate buy positions under $36. Options with September and October expiration are also looking attractive. Initiate small positions and add in coming weeks. Expectation in coming days is for a relief package from congress or from the Trump administration since furloughs and layoffs by the airlines will increase massively. American already threatening to cut 40,000 jobs without there being a relief package. Things can definitely get ugly here if Washington doesn’t take any action. With this being an election year chances are slim that no action is taken. Expect a pop in coming days/weeks.
For more Stock recommendations, visit our Finance page.