Peter Smith
The stocks from the airline sector are having a bad day today as the price plunges significantly. The Flying Stocksman (@flyingstocksman) recommends selling while the stock price is below the cloud. Those recommendations are relevant for International Consolidated Airlines Group (IAG), Qantas Airways Limited (QAN), Rolls-Royce Holdings (RLLCF), and EasyJet PLC (EZJ).
The Current Situation in Airline Industry
Airline industry has suffered a lot from the ongoing crisis as the majority of flights were canceled due to the quarantine measures. While the headlines of the most influential newspapers and magazines are focused on the growing numbers of new coronavirus cases, investors are getting rid of the stocks as they expect another wave of quarantine measures, which may cause permanent damage to the industry.
Brief Overview of IAG
The price of this UK-based airline company’s stock is close to its lows recorded in 2020. The price started a very sharp downtrend in the end of February of 2020 and hit $2.093. Later there were some attempts to start an uptrend but they all failed due to rising fears of more quarantine measures.
Brief Overview of Qantas Airways Limited
You can’t see much of a difference when comparing Qantas stock price with IAG. QAN started to plunge a bit earlier at the beginning of 2020 and had a significant fall towards $2.02. That was the year’s lowest point. The stock price had an attempt to gain back some positions later but currently, it has another sharp plunge due to investors’ fears.
Brief Overview of Rolls-Royce Holdings
Rolls-Royce Holdings stock price has started its downtrend in February of 2020 together with IAG. Rolls-Royce specializes in producing equipment for airplanes, ships, and civil vehicles. Nowadays, both sectors are suffering from the global crisis. It is not surprising the price of the stock has reached its 2020 lowest levels and is currently close to them when fears about the new wave of quarantine measures are dominating the markets.
Brief Overview of EasyJet
The beginning of 2020 wasn’t the best time for EasyJet as well. The stock price plunged to 4.94 but had a smooth recovery later. EZJ targeted higher levels until the end of June when fears about new restriction measures have broken the uptrend.
Peter Smith
