Airline Stocks Fly On Oil Pullback

All of the major airline stocks are trading higher this morning on the back of declining oil prices. Since mid-February most of the major airline stocks have come under sharp selling pressure as oil began to climb higher by nearly 30.0 percent. The Guggenheim Airline ETFFAA is trading higher this morning by 0.55 cents to $34.94 a share. Delta Air Lines Inc.DAL is one of the leading stocks in the commercial airline sector. This company has a fair amount of exposure to Japan after its merger with Northwest Airlines. Delta stock is trading higher by 0.62 cents to $10.05 a share. This stock will have intra-day resistance around the $10.25 and $10.60 levels. United Continental Holdings Inc.UAL is trading higher by $1.14 to $21.66 a share. This stock recaptured the important $20.00 support level on the daily chart yesterday, which shows that the stock was being defended by the institutions. Today UAL stock will have intra-day resistance around the $22.00 area. AMR Corp.AMR is another leading airline stock that has come under pressure since early January 2011. This morning AMR stock is trying to recapture the $6.00 level which was an important breakdown point for the stock. AMR stock is trading higher by 0.20 cents to $5.98 a share. The stock will have intra-day resistance around the $6.00 level and more at $6.20. Traders and investors that are playing the airline stocks must keep one eye on oil prices at all times. Should another oil producing nation begin having protests or conflict oil could easily spike higher again causing another decline in the commercial airline sector. Nicholas Santiago InTheMoneyStocks.com