Air Canada has an inverse relationship to energy
At this point it looks like AC.B will have to retest support at $2.00.
April 6, 2011 | Posted in Aerospace | Read Article »
At this point it looks like AC.B will have to retest support at $2.00.
There isn’t much in the data stream that would suggest that the company is on the verge of a business breakthrough that will get it on a sustained uptrend.
Having said that there is support at $2.50 and transportation stocks tend to enjoy a period of seasonal strength from September to November.
The global airlines industry has been facing headwinds as they adjust to seeing the volume of business travel slow.