Easyjet closed up 6.06% this evening at 348.40p, right under the major horizontal resistance line at 350p. It now really appears to be consolidating its position around this line, as in September, with the difference that it has closed above the SMA50 for the 3rd trading day in a row. We must insist that this progression is highly similar to that observed in September, almost a perfect mirror image. It is also continuing to channel around the lower red dotted line, maybe looking to go above it in the coming days. The ideal position seems, and only seems to be, like a long-term sell, with some profit to be made on volatility in about 2 weeks’ time. McCloud, 31st of October 2022.
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