TUI: under pressure following 3Q net loss
Jean-Christophe Rolland August 13, 2020 8:31 AM
The company had a net loss for the quarter ended June 30 ; shares remain under pressure.
TUI posted a 1.42 billion euros net loss in 3Q, vs a profit of 22.8 million a year earlier. Earnings were impacted by impairment charges due to the coronavirus pandemic, and rising net costs.
From a chartist point of view, the recent rebound stopped on the 408 resistance area and prices are turning down below that level. The 50 day MA maintains a bearish pressure while the RSI breaks below its 50 neutrality level. Below 408, a new down leg would be expected towards horizontal supports at 278 and 242 in extension.
Source : TradingVIEW, Gain Capital
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