The Irish airline carved a €170 million (~$174 million) profit, up from a prior loss of €273 million (~$279) in 2021. While earnings remain below pre-pandemic levels, the sharp rebound bolstered optimism, with CEO Michael O’Leary voicing confidence that 100% of scheduled flights will operate in the coming months while the company continues to increase its market share. Meanwhile, the U.S. listed shares of the airliner are up 5.64% in pre-market trading.
RYAAY chart and analysis
In the last month, RYAAY has been trading in the $65.07 to $75.52 range, while the stock is down over 33% year-to-date (YTD). The support zone is located at $72.33, after the pre-market move. On the other hand, resistance is at $84.07 in the daily time frame, depending on the activity the shares see once the market opens. TipRanks analysts rate the shares as a ‘strong buy’, with all three market experts predicting that in the next 12 months the shares could reach $121, 70.49% higher than the current trading price of $70.97. Despite posting a profitable quarter, the company management tapered the markets’ expectations, citing possible new Covid flareups, supply chain risks, volatile oil prices, and geopolitical risks as factors influencing the company’s performance. Moreover, the airliner’s recovery could encourage investors to move on the shares since YTD they’re down big, with a potential to run up if the travel recovery continues. Buy stocks now with Interactive Brokers – the most advanced investment platform Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
