Ryanair continues to trend up, with MACD turning positive on the weekly timeframe

Ryanair is up today on their annual reports results. Our report can be found here.

Looking at the chart, Ryanair sits at €15.98 with support below at €14.41 (50 SMA) and €13.31 (100 SMA). MACD has also turned positive recently with an RSI reading of 67.3 suggesting a somewhat bullish stance. Looking toward the upside Ryanair has major resistance above at the €18.50 region. A break above here could take the shares toward €20. If demand stays high in 2023 and Ryanair continues to dominate routes across Europe, other airlines, like Easyjet, could see their market share drop resulting in bigger revenues and profits for the Irish giant pushing the share price higher.