United Airlines Holdings Inc. (UAL) remains in the Favoured Green Zone of the SIA S&P 500 Index Report, currently ranked 32 out of 505 companies. The shares have been exhibiting significant relative strength, climbing 34 positions over the past week, 166 positions over the past month and 312 positions over the past quarter. UAL also carries a perfect SMAX score of 10 out of 10 and recently generated a Spread Triple Top Point & Figure signal.
The Transportation sector continues to provide a supportive backdrop, ranking second out of 31 sectors in the SIA Sector Report and improving by four positions over the past quarter. United Airlines has substantially outperformed its benchmark recently, gaining 34.66% over the past month, 44.80% over the past quarter and 20.38% year to date, compared with returns of 2.75%, 10.19% and 11.38%, respectively, for the S&P 500 Index Fund.
From a technical perspective, near-term support is identified at the 3-box reversal level of $122.83 with additional support at $115.75 and $87.72. Initial resistance is found at $152.73 with additional resistance at $171.99.
United Airlines is one of the world's largest commercial airlines, operating an extensive global network and benefiting from growing premium travel demand, its MileagePlus loyalty platform and expanding ancillary revenue opportunities. Recent operational momentum, record revenues and improving earnings expectations may be contributing to the stock's continued rise in the relative strength rankings, making UAL an interesting point of interest within the currently favoured Transportation sector.
Disclaimer: SIACharts Inc. specifically represents that it does not give investment advice or advocate the purchase or sale of any security or investment whatsoever. This information has been prepared without regard to any particular investors investment objectives, financial situation, and needs. None of the information contained in this document constitutes an offer to sell or the solicitation of an offer to buy any security or other investment or an offer to provide investment services of any kind. As such, advisors and their clients should not act on any recommendation (express or implied) or information in this report without obtaining specific advice in relation to their accounts and should not rely on information herein as the primary basis for their investment decisions. Information contained herein is based on data obtained from recognized statistical services, issuer reports or communications, or other sources, believed to be reliable. SIACharts Inc. nor its third party content providers make any representations or warranties or take any responsibility as to the accuracy or completeness of any recommendation or information contained herein and shall not be liable for any errors, inaccuracies or delays in content, or for any actions taken in reliance thereon. Any statements nonfactual in nature constitute only current opinions, which are subject to change without notice.
