Airline Stocks Are The Lone Group Of Strength
Nicholas Santiago | Nov 11, 2012 12:40AM ET
Thursday morning, most of the leading stock sectors struggled to catch a bid higher. As we all know, the markets were slaughtered Wednesday as institutions sold everything under the sun. Thursday, the one industry group that traded higher was the airline sector. Often, when oil declines it will help to lift the airline stocks since that is a major expense for the industry. Crude has tumbled lower since mid-September declining by more than $15.00 a barrel. Thursday, light sweet crude is trading around the $84.63 level.
Some of the leading airline stocks that are trading higher today include Delta Air Lines Inc (DAL), U.S. Airways Group inc (LCC), Southwest Airlines Co (LUV), and United Continental Holdings Inc (UAL). UAL stock is one of the leaders in the sector. This stock is trading higher by 0.40 cents to $20.91 a share. Short-term traders should watch for intra-day resistance around the $21.02, and $21.30 levels.
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