AMR provides passenger airline service throughout the world. The company offers flights to more than 150 destinations, including North America, Europe, the Pacific, Latin America and the Caribbean. AMR also offers freight and mail services to shippers around the world.
Unfortunately for AMR, now is not a good time to be an airliner. Recently several flights, both domestic and international, were cancelled leading up to the Super Bowl. The reason: terrorist fears, worries about the Asian bird flu and lingering SARS reports. All of this bad news is putting downward pressure on the airliners -- AMR included. The only question is, how much will ARM fall?
In the past year, AMR stock has climbed from a 52-week low of $1.25, to a high of $17.65, a gain of over 1,300%. This stock is ripe for profit-taking. If it simply fills its gap from a week ago, AMR stock will fall to $14.68. And from there it may fall all the way down to $13 -- its next support line. |
