EASYJET ORD 27 2/7P - is Approaching the 23.6% Fibonacci Retracement Level - 05/15/2017 (GMT)

The EasyJet (LSE:EZJ.L) is a British airline based at London Luton Airport. The stock price has been developing within an uptrend since February of 2017 following the significant bounce off the $900.00 strong support level. The price headed to a fresh high over last week at $1.330 which is slightly below the 100-weekly SMA.

On the medium term, the price is having an aggressive run to the upside as it is recording the eighth positive month in a row. Over the last trading session the stock opened with a gap down and tried to recover it. The next level to watch to the upside is the $1.330 resistance level. On the other side, the 23.6% Fibonacci retracement level with low at $900.00 and high at $1.330 will act as a strong support level for the bulls. MACD and RSI are endorsing the second thought for a downward move and then back again to the previous high. MACD is falling and is holding below trigger line while RSI dropped below the overbought area.