DELTA AIR LINES INC. Stock Code DAL.NYS
Outlook
Price broke and closed below the cloud in the previous trading session and this could be a sign of a change from the bullish outlook into a bearish trend. Price had also broken below the neckline of a Double Top chart pattern, hinting of a price movement to the chart pattern target at $31.20. Conversion and Base lines had a bearish crossover hinting of the bearish trend. Lagging Span is below price of 26 days ago but is still above the cloud. MACD is bullish but both lines moving away from the zero line and lower. We think price is likely to move lower to the gap support at $34 in the next 2-3 weeks.
Strategy
$44.50 Sell
$34.50 Price Target
$47.90 Risk Management Stop
3 weeks Trade Duration
