A bullish ascending triangle pattern has emerged in the chart of American Airlines (NASDAQ:AAL). If the stock breaks through this resistance level, a breakout could soon follow. Read more to learn how to profit from this trade.A bullish ascending triangle pattern has formed in the chart of American Airlines (AAL). If the resistance level is broken, a breakout could follow.
Headquartered in Fort Worth, Texas, AAL is the world's largest airline. The company primarily operates in two segments: Mainline and Regional affiliates. AAL also has a large cargo unit, through which it offers a broad range of freight and mail services across the globe.
As you would imagine, the company struggled during the COVID-19 pandemic. The drop in passengers flying led to a huge loss of revenue for the company. In its most recent earnings report, sales were down year over year. As more people get vaccinated and start traveling again, the company is expected to get back on track.