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by Darius Anucauskas

Amadeus IT Stock Still Floats Above A Short-Term Upside Line

After testing and briefly violating a short-term upside support line taken from the low of March 19th, the Amadeus IT Holding stock (BME: AMS) moved back above it. It looks like the price structure is suggesting a possible move higher again, however, in order to get comfortable with that idea, we would like to see AMS drifting above the 45.00 barrier, marked by the lows of April 15th and 16th. Until then, we will remain cautiously-bullish.

As mentioned previously, a push above the 45.00 zone could increase the stock’s chances of moving higher, as more potential buyers could join in. AMS might then travel to the 49.00 area, which is the high of April 17th. Initially, the share price may stall around there, or even retrace a bit lower. That said, if the stock stays above the 45-euro mark, this might help it rise again. If this time AMS overcomes the 49.00 hurdle, this will confirm another higher high and the price may rise to the current highest point of April, at 52.18.

The RSI and the MACD are somewhat in support of this short-term idea. Despite the RSI and the MACD being below 50 and the zero line respectively, still, both indicators started slowly pointing higher, which could be seen as a positive sign.

Alternatively, if the share price breaks the aforementioned upside line again and falls below the 41.41 hurdle, which is the low of last week, this may clear the way to some lower areas. AMS could then slide to the 39.18 obstacle, a break of which might set the stage for a test of the lowest point of March, at 36.81.

AmadeusIT-240

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