TUI PLUNGES AFTER LOWERING PROFIT GUIDANCE
TUI AG is currently trading at 10.55-lower by 3.34% as compared to the previous closing price. The company’s stock fell sharply in the previous session also after the travel group lowered its underlying earnings guidance for the year ahead. TUI cited the hot summer and the weak pound as reasons for British customers not going on vacation.
The tour operator said late Wednesday that it anticipates underlying earnings before interest, taxes, and amortization at constant currency for the year ending Sept. 30 to be flat compared with that of fiscal 2018. The Germany-based company had previously guided for at least 10% growth in underlying EBITA at constant currency.
On the technical front, the current price is below the MA5. The current price is below the lower band of the Bollinger Bands and is heading downwards. The RSI is currently at 23.95% and suggests that the market can move in the downward direction.
TRADE SUGGESTION- STOP SELL AT 10.52 TAKE PROFIT AT 10.12 STOP LOSS AT 10.72