Quarterly figures from travel firm TUI should help to determine whether we will continue to see progress in its share price. TUI’s German business recently reported better figures, driven by an increase in bookings for Greek holidays. In addition, Egypt appears to be rising in popularity after a period in which the destination was unavailable due to ongoing political turmoil.
TUI has enjoyed a rally stretching back to mid-2012 and, while it has faltered at the 450p mark in recent days, there still seems an appetite to push higher from here. The 50-, 100- and 200-day moving averages all point higher, with the 200-DMA acting as a powerful support level twice in 2013.
The 450p area remains the resistance level to breach, but even if quarterly figures do not prove encouraging, the 420p and then the 400p areas are likely to provide notable support in the short-term.