The IAG share price bounced back solidly this Wednesday after US airlines reported only minor” disruptions due to the 5G equipment at US airports. IAG-owned British Airways had suspended its US flights after concerns that the 5G equipment could disrupt the navigations systems of aeroplanes.
However, it seems the coast is now clear for British Airways to resume these long-haul flights. Presently, the Federal Aviation Administration, the aviation regulator of the US, is now allowing more bad weather landings at airports that have 5G components installed.
Investors appear pleased with the developments, with the IAG share price gaining 10.58% as of writing.
The robust gain has allowed for a violation of the 156.40 resistance. If the active daily candle closes with a 3% penetration above this resistance, the break is confirmed, and 167.54 becomes an available target to the north. 177.46 and 187.24 are also northbound price targets available if 167.54 is breached along with the descending trendline.
On the other hand, a decline below 156.40 brings attention to 149.72, before 143.94 and 136.64 enter the picture as other southbound pivots.
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This post was last modified on %s = human-readable time difference 14:37