American Airlines Group $AAL has been in a bearish-neutral mode., but could be setting up for a bullish reversal. It entered late 2018 in a bearish trend before finding support around $30. Price has been consolidating in a descending triangle since. But price broke lower in late May. AAL Daily Chart (click to enlarge)Bullish Reversal?- On the daily chart, we can see that price was in a bearish continuation breakout in May before finding support around $25.- As we can see price rebounded and did not find resistance in the previous support.- Instead, price continued to rally and eventually broke above the descending triangle resistance. - It is now also breaking above the 200-day simple moving average (SMA).- I think this price action is a sign that AAL is ready for a bullish reversal.- The upside from this breakout is at least $40.- For now, I would limit the upside to the late September 2018 high around $44.- On the weekly chart, we can see that price is essentially bouncing off a key support area. - When we look at the weekly chart, we might think that there is upside to the long-term range resistance around $56-$58.- Note that if price gets to $42, it will be testing the 200-week simple moving average. - Therefore I think we should limit our bullish expectation to the $42-$44 area.- $32 should hold as support if the market is indeed turning bullish. AAL Weekly Chart (click to enlarge)