Bearish Chart Formation for Air Lease Corp (AL) After Forming Ascending Triangle Pattern

July 17, 2017 - By Stephen Andrade

Investors sentiment decreased to 1.06 in 2016 Q4. Its down 0.05, from 1.11 in 2016Q3. It dived, as 28 investors sold Air Lease Corp shares while 83 reduced holdings. 43 funds opened positions while 75 raised stakes. 89.95 million shares or 0.03% more from 89.93 million shares in 2016Q3 were reported.
570 were accumulated by Nomura Asset Mngmt. Blackrock Institutional Na holds 0.01% or 2.45 million shares. Renaissance Tech Lc, New York-based fund reported 355,600 shares. Aureus Asset Management Ltd Com reported 0.04% stake. Cap Investors reported 3.52 million shares. Capital Counsel Ltd Co New York holds 2.12% or 596,165 shares in its portfolio. Schwab Charles Investment Management Inc stated it has 301,762 shares. 10 were accumulated by Earnest Ptnrs Ltd Liability Corporation. Lord Abbett And Lc holds 0.17% or 1.61 million shares in its portfolio. Aqr Mngmt Lc holds 0.01% of its portfolio in Air Lease Corp (NYSE:AL) for 258,006 shares. Cooke Bieler L P holds 295,030 shares. State Common Retirement Fund holds 0.01% or 300,960 shares. Basswood Management Limited Co holds 981,549 shares. Peak6 Invs L P, a Illinois-based fund reported 7,243 shares. Colorado-based Cambiar Invsts Limited Liability Co has invested 0.47% in Air Lease Corp (NYSE:AL).

Since March 15, 2017, it had 0 insider purchases, and 4 insider sales for $2.47 million activity. Poerschke John D sold $154,750 worth of Air Lease Corp (NYSE:AL) on Wednesday, March 15. $1.17 million worth of Air Lease Corp (NYSE:AL) shares were sold by Chen Jie. $76,000 worth of Air Lease Corp (NYSE:AL) was sold by Korde Kishore.

The stock of Air Lease Corp (AL) formed an ascending triangle with $36.12 target or 8.00 % below today’s $39.26 share price. The 6 months triangle pattern indicates high risk for the $4.02B company. If the $36.12 price target is reached, the company will be worth $321.60M less.
The ascending triangle is a questionable performer despite its reputation as a reliable chart pattern. The ascending triangle has break even failure rate for up and down breakouts of 13% and 11%, respectively. The average rise and decline is 35% and 19%. The throwback or so called pullback rates are: 57% and 49%. The stocks meeting their targets is high for this type of breakout: 75% and 68% percent.

About 513,628 shares traded. Air Lease Corp (NYSE:AL) has risen 29.12% since July 17, 2016 and is uptrending. It has outperformed by 12.42% the S&P500.

Air Lease Corp (NYSE:AL) Ratings Coverage

Among 11 analysts covering Air Lease (NYSE:AL), 10 have Buy rating, 0 Sell and 1 Hold. Therefore 91% are positive. Air Lease had 25 analyst reports since August 7, 2015 according to SRatingsIntel. The rating was maintained by FBR Capital on Friday, February 24 with “Outperform”. The rating was maintained by Cowen & Co with “Outperform” on Friday, February 24. FBR Capital maintained the stock with “Outperform” rating in Friday, November 4 report. On Tuesday, November 22 the stock rating was maintained by FBR Capital with “Outperform”. Cowen & Co maintained it with “Buy” rating and $4100 target in Monday, July 10 report. The firm earned “Equal-Weight” rating on Thursday, April 6 by Morgan Stanley. The stock of Air Lease Corp (NYSE:AL) earned “Buy” rating by RBC Capital Markets on Friday, May 26. The firm earned “Outperform” rating on Monday, December 28 by Credit Suisse. The firm earned “Buy” rating on Friday, August 21 by DA Davidson. The stock of Air Lease Corp (NYSE:AL) has “Buy” rating given on Monday, March 14 by Citigroup.

More notable recent Air Lease Corp (NYSE:AL) news were published by: Nasdaq.com which released: “Boeing, Air Lease Corp. Sign MoU For 12 737 MAXs” on June 21, 2017, also Reuters.com with their article: “BRIEF-Air Lease Corporation activity update for Q2” published on July 10, 2017, Streetinsider.com published: “Barclays Starts Air Lease Corp (AL) at Overweight” on July 10, 2017. More interesting news about Air Lease Corp (NYSE:AL) were released by: Nasdaq.com and their article: “Air Lease Corporation Announces the Delivery of Boeing 737-800 to Royal Air Maroc” published on June 26, 2017 as well as Seekingalpha.com‘s news article titled: “Short Air Lease Corp.: Threat From New Under The Radar Chinese Lessors” with publication date: June 22, 2017.

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