United Air shares touch a fresh all-time high on Thursday, company reports a 7% growth in July traffic

August 10, 2018 7:18 am

United Continental Holdings Inc (UAL) reported earlier this week that its total revenue passenger miles (RPMs) rose 6.9% year-on-year to 23.003 billion last month, supported by a 9.1% growth in domestic RPMs and a 4.1% increase in international RPMs.

United Air shares closed lower for the first time in the past six trading sessions in New York on Thursday. The stock inched down 0.05% ($0.04) to $82.75, after touching an intraday high at $83.66 and also a fresh all-time high.

Shares of United Continental Holdings Inc have risen 22.77% so far in 2018 compared with a 6.73% gain for the underlying index, S&P 500 (SPX).

In 2017, United Air’s stock retreated 7.52%, thus, it underperformed the S&P 500, which registered a 19.42% return.

The company also said its capacity grew 4.0% year-on-year to 25.759 billion available seat miles (ASMs) in July, as domestic ASMs rose 6.0%, while international ASMs increased 1.5%.

Meanwhile, United Air’s passenger load factor increased 240 basis points to 89.3% in July compared to the same month a year earlier.

The number of passengers carried rose 8.7% to 15.420 million in July from a year ago.

According to CNN Money, the 15 analysts, offering 12-month forecasts regarding United Air’s stock price, have a median target of $86.00, with a high estimate of $130.00 and a low estimate of $74.00. The median estimate represents a 3.93% upside compared to the closing price of $82.75 on August 9th.

The same media also reported that 10 out of 18 surveyed investment analysts had rated United Air’s stock as “Hold”, while 7 – as “Buy”.

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 – $82.86
R2 – $82.96
R3 (Range Resistance – Sell) – $83.07
R4 (Long Breakout) – $83.39
R5 (Breakout Target 1) – $83.77
R6 (Breakout Target 2) – $83.92

S1 – $82.64
S2 – $82.54
S3 (Range Support – Buy) – $82.43
S4 (Short Breakout) – $82.11
S5 (Breakout Target 1) – $81.73
S6 (Breakout Target 2) – $81.58

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 – $80.56
R1 – $82.42
R2 – $83.50
R3 – $85.36
R4 – $87.22

S1 – $79.48
S2 – $77.62
S3 – $76.54
S4 – $75.46

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