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Actionable news in UAL: UNITED CONTINENTAL HOLDINGS Inc,

United Continental (UAL) Stock: Stuck at the Gate

NEW YORK (TheStreet) -- It would be nice to say that all the airlines were flying high, but United Continental Holdings (UAL - Get Report) is stuck at the gate.

UAL peaked at the beginning of the year, see chart above, and declined to a low in June. The June low of $50 has been tested and retested the past five months. Rallies off these lows have petered out around $60, give or take. The On-Balance-Volume (OBV) line and volume spiked in early September, but prices and volume have been unable to have a sustained follow-through.

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This longer-term view of UAL in the chart above shows a respectable rally in 2013 and 2014, but prices peaked and the OBV line flattened out. We look for the $50 support level in UAL to hold, but we don't expect to leave the gate until prices can clear their September highs around $62 and volume can expand on days when UAL closes higher.

TheStreet Ratings team rates UNITED CONTINENTAL HLDGS INC as a Buy with a ratings score of...


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