Boy,its hard to put a rhyme or reason to why airline stocks rise and fall--Just been looking at the chart and this last fall and small gain you could cut out and put on the last June chart and it would fit perfectly --It then dropped to $2.40 (MA was different though)so I went back and read the posts around that time -(June-July)--There was really no apparent catalyst for the drop--about the only thing I noticed was that most airlines also dropped--everything else seemed pretty identical--management etc.--most were at a loss to say why it was happening.
Its of course bounced back now,but i can only take from this that nothing is certain with airlines and that ,as some have suggested they are cyclical in nature.
It was suggested that it was a healthy correction.
All up from here is not a given any more than get ready for the drop--Or did I miss something more,that was different back then?
One thing for sure is that the $3 resistance is a hard one to crack--If your just looking at the odds.
The only statement Im making is that it was hard to make sense of that June drop(did management expectations drop or the outlook for tourism growth?) or was it just the most fickle mistress of them all --sentiment