Atlas Air Worldwide Holdings, Inc. (NASDAQ: AAWW)

Atlas Air Worldwide Holdings, Inc., through its subsidiaries, provides outsourced aircraft and aviation operating services worldwide. It operates through three segments: ACMI, Charter, and Dry Leasing.

Take a look at the 1-year chart of Atlas (NASDAQ: AAWW) below with added notations:

1-year chart of Atlas (NASDAQ: AAWW)

AAWW has been rallying higher since its mid-May low, but the stock has recently stalled, as AAWW has hit the same resistance at $68 (red) multiple times. The stock is currently sitting just under that level now. A solid close above the $68 should lead to another leg higher for AAWW.

The Tale of the Tape: AAWW has a 52-week resistance at $68. The possible long position on the stock would be on a breakout above that level with a stop placed under it.

Before making any trading decision, decide which side of the trade you believe gives you the highest probability of success. Do you prefer the short side of the market, long side, or do you want to be in the market at all? If you haven’t thought about it, review the overall indices themselves. For example, take a look at the S&P 500. Is it trending higher or lower? Has it recently broken through a key resistance or support level? Making these decisions ahead of time will help you decide which side of the trade you believe gives you the best opportunities.

No matter what your strategy or when you decide to enter, always remember to use protective stops and you’ll be around for the next trade. Capital preservation is always key!

Good luck!

Christian Tharp, CMT