Nathan BatchelorAirbus’s share price has been crashing lower over recent weeks, as the rapid spread of the coronavirus continues to severely damage the global airline industry.
Airbus share price technical analysis shows that a bearish reversal pattern is signalling more downside towards the $30.00 support area.
Airbus medium-term price trend
Airbus’s stock price has remained under severe downside pressure over recent weeks, with the airline maker losing over 60 per cent of its share value since the start of February.
Price action surrounding the stock continues to suggest that the ongoing downtrend in the share price will remain in place over the medium-term.
Airbus stock analysis shows that the share price could soon fall towards the $30.00 level.
The daily time frame shows that the recent break below the $76.00 level has invalidated an inverted head-and-shoulders pattern.
Looking at the target of the invalidated pattern, Airbus’s share price could soon fall towards the $30.00 support area.
Airbus short-term price trend
Airbus share price technical analysis over the short term shows that sellers are in control while the shares trade below the $90.00 level.
A bearish head-and-shoulders pattern has been created across the lower time frames and is signalling further losses towards the $30.00 level.
Traders should note that the neckline of the mentioned head and shoulders pattern is currently located around the $52.00 support level.
With the fundamentals surrounding Airbus so heavily bearish at the moment it appears likely that the downside target could soon be achieved.
Airbus technical summary
Airbus share price technical analysis indicates more short and medium-term weakness for the airline maker. The $30.00 level is seen as a possible bearish target.
