IAG (LON: IAG) share price is on track to flipping bullish after a 15.8% surge from last month lows. The recently released H1 results of Ryan Air could be the reason behind this surge in the shares of the British Airways owner.
Consequently, the shares of other European airlines like easyJet and Wizz Air are also experiencing a similar bullish sentiment after Ryan Air’s positive comments on the pricing power. However, the shares of International Consolidated Airlines Group showed a 0.96% pullback on Thursday amid a bearish sentiment in the UK stock market.
The negative price action comes after a 4.64% surge in the stock’s previous session which was fuelled by the October CPI numbers. The data showed that the YoY inflation in the UK had fallen to 4.6%.
I have marked a few key levels on the following LON: IAG chart. These levels are critical demand and supply zones. It can be clearly seen that the price has broken above the 200 MA on the daily chart, which gives a bullish outlook to the IAG share price forecast.
As a result, the next target could be the high timeframe resistance above 169p.
This post was last modified on Nov 16, 2023, 18:01 GMT 18:01