German airline giant Lufthansa said Friday it will fly twice as many aircraft in June as in recent weeks and return to some European destinations, but the flight plan remains a shadow of pre-coronavirus operations.
Spots beloved of holidaymakers like Spanish island Mallorca, Crete and German North Sea retreat Sylt will return to the timetable, with 160 aircraft aloft bearing Lufthansa’s crane or the logos of subsidiaries Swiss and Eurowings.
More details of the 106 planned destinations will be published next week, Lufthansa said.
But the vast majority of the group’s roughly 760 planes will remain grounded as restrictions on travel and tourist essentials like hotels and restaurants ease only slowly around the continent.
“We sense a great desire and longing among people to travel again,” board member Harry Hohmeister said in a statement.
“With all due caution, we are now making it possible for people to catch up and experience what they had to do without for a long time.”
Details of the June flight plan were released less than 24 hours after the Frankfurt group said it was in talks for the German government to buy shares and offer a loan to keep it afloat through the coronavirus crisis.
Berlin could end up owning around 25 percent of Lufthansa, although politicians are still wrangling over the details.
Economy Minister Peter Altmaier told tabloid-style daily Bild Thursday that Lufthansa was part of Germany’s “family silver” and that Berlin aimed to avoid a “fire sale” of valuable firms.
Overall, the bias in prices is: Downwards.
Note: this chart shows extraordinary price action to the downside.
The projected upper bound is: 9.16.
The projected lower bound is: 6.18.
The projected closing price is: 7.67.
A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 4 white candles and 6 black candles for a net of 2 black candles. During the past 50 bars, there have been 12 white candles and 38 black candles for a net of 26 black candles.
A spinning top occurred (a spinning top is a candle with a small real body). Spinning tops identify a session in which there is little price action (as defined by the difference between the open and the close). During a rally or near new highs, a spinning top can be a sign that prices are losing momentum and the bulls may be in trouble.
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 24.5157. This is not an overbought or oversold reading. The last signal was a buy 8 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 41.10. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a buy 8 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is -64. This is not a topping or bottoming area. The last signal was a buy 8 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 8 period(s) ago.
Rex Takasugi – TD Profile
DT LUFTHANSA AG closed down -0.082 at 7.778. Volume was 51% below average (consolidating) and Bollinger Bands were 52% narrower than normal.
Open High Low Close Volume 7.800 7.880 7.700 7.778 5,395,265
Technical Outlook Short Term: Neutral Intermediate Term: Bullish Long Term: Bearish
Moving Averages: 10-period 50-period 200-period Close: 7.94 9.12 13.70 Volatility: 94 102 62 Volume: 11,513,724 14,379,991 7,328,529
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
DT LUFTHANSA AG is currently 43.2% below its 200-period moving average and is in an upward trend. Volatility is high as compared to the average volatility over the last 10 periods.
Our volume indicators reflect volume flowing into and out of LHAG.DE at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on LHAG.DE and have had this outlook for the last 15 periods.
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