Easyjet elicits a gloomy future

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Easyjet shares (LSE:EZJ) have been involved a free fall, owing to selling pressure in the market. From February till May 2020, price plummeted seriously and remained depressed. A bullish effort was in place in late May and early June, which is followed by the current bearish run (expected to continue).

Price has already gone below the lower Trendline, and it is heading downwards. The RSI period 14 is below the level 40, heading towards the level 30, which might also be breached to the downside. Really, there could be some bullish corrections along the way, the like of which was seen in late May and early June, but price would continue to go downwards.

The outlook on EZJ is bearish, and the initial target is 400.00, which could be breached to the downside, going further southwards.

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