TUI: under pressure following 3Q net loss

The company had a net loss for the quarter ended June 30 ; shares remain under pressure.

Downtrend 1

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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