EASYJET ORD 27 2/7P - EasyJet Stock is Trading Within a Triangle - 12/27/2016 (GMT)

The Easy Jet (EZJ:LSE) is trading within a symmetrical triangle over the last three months after the sharp sell-off in June. The price opened with a gap to the downside and failed to recover it as it is developing near the $1031 price level.

The technical structure suggests further upside movement and a penetration of the upper band of the pattern. The price now is trading slightly below the latter level, however, it surpassed the 100-SMA on the daily chart. A break above the descending trend line will expose the price towards the $1110 strong resistance level. On the other hand, the stock may find a strong obstacle for the bulls and return back to the $960 support barrier. Technical indicators are moving in a positive area with some weak momentum. The RSI indicator is flattening above the 50 level while the MACD oscillator holds above both, its trigger and zero lines.