United Air shares close higher on Wednesday, company to testify at House Transportation Committee hearing
According to a statement by United Continental Holdings Inc (UAL) on April 19th, the carrier intends to testify at the US House Transportation Committee hearing on commercial airline consumer issues, following the April 9th incident with a passenger in Chicago. However, no specific date for the hearing has so far been disclosed.
United Air shares closed higher on Wednesday, while marking their second gain in the past six trading sessions. The stock went up 2.27% ($1.54) to $69.29, with the intraday high and the intraday low being at $69.79 and $67.77 respectively. In the week ended on April 16th the shares of the transportation company lost 2.55% of their market value compared to a week ago, which marked the first drop in four weeks, but yet, the smallest one since the week ended on February 26th. The stock has pared its loss to 1.91% so far during the current month, following a 4.66% slump in March. The latter has been the largest monthly decrease since June 2016. For the entire past year, United Air shares gained 27.19%.
A spokesperson for the House of Representatives panel did not reveal details about who the witnesses were going to be. At the same time, Megan McCarthy, the spokesperson for United Air, said that the company looked “forward to meeting with the committee and sharing with them the comprehensive review and the customer-focused actions we will communicate next week.” However, she did not specify who was going to testify for the airline.
On the other hand, United Air has a deadline until April 20th from the US Senate Commerce Committee to provide answers about the United Flight 3411 incident, during which Dr. David Dao, 69, was dragged off by security officers at the airport in order to make space for crew members.
According to CNN Money, the 17 analysts, offering 12-month forecasts regarding United Air’s stock price, have a median target of $82.00, with a high estimate of $105.00 and a low estimate of $74.00. The median estimate is an 18.34% surge compared to the closing price of $69.29 on April 19th.
The same media also reported that 9 out of 18 surveyed investment analysts had rated United Air’ stock as “Buy”, while 8 – as “Hold”.
Daily and Weekly Pivot Levels
With the help of the Camarilla calculation method, today’s levels of importance for the United Air stock are presented as follows:
R1 – $69.48
R2 – $69.66
R3 (Range Resistance – Sell) – $69.85
R4 (Long Breakout) – $70.40
R5 (Breakout Target 1) – $71.05
R6 (Breakout Target 2) – $71.36
S1 – $69.10
S2 – $68.92
S3 (Range Support – Buy) – $68.73
S4 (Short Breakout) – $68.18
S5 (Breakout Target 1) – $67.53
S6 (Breakout Target 2) – $67.22
By using the traditional method of calculation, the weekly levels of importance for United Continental Holdings Inc (UAL) are presented as follows:
Central Pivot Point – $69.84
R1 – $71.33
R2 – $73.58
R3 – $75.07
R4 – $76.55
S1 – $67.59
S2 – $66.10
S3 – $63.85
S4 – $61.59