AA always signals the kickoff of earnings season each quarter. The red lines shows the price basing occurring over the last year with a falling wedge and positive divergence that created the lift off the bottom. The action over the last month is long and strong. Overall the chart hints at sideways action moving forward. The moving averages and price are lining out sideways. The earnings after the bell today may be uneventful. The projection for AA is sideways with a sideways up bias moving forward thru the weeks and months ahead favoring the 8.5-9.3 channel, and sneaking up above 9.3 as time moves along. For long term investors, AA may be attractive since the flat to sideways up should continue for weeks and months ahead. AA will release after the closing bell today.
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