Is Ryanair airline stock price flying again? Low-cost Ryanair airline results were not great during the COVID-19 pandemic and lockdown. The European No flights for many months and no tourists, meaning no income. Regardless of restrictions caused by COVID-19, the airline stock started to rally until it reached a strong supply imbalance at $114 per share. Since that price level was reached, Ryanair’s stock price started a long-term sell-off that lasted more than a year until a strong imbalance located at $66 was reached last June 2022. The airline stock is poised to rally higher. Will it be a long-term bullish correction? I hope it will, at least until the next price action obstacle is reached at around $82.
As supply and demand traders, we do not need to pay attention to fundamental analysis. Unless you are doing very short-term trading and scalping, you should not worry about fundamentals for stocks and ETFs.
Trading is just waiting for the right trigger points and scenarios to present themselves, this game has a name, and it’s called the waiting game. We must patiently wait for the correct scenarios and setups to happen and for the price to pull back or dip into the price levels we want to trade. These price levels are made of supply and demand imbalances in our case. You can use these imbalances to plan your trades in lower timeframes.
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