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Airline Stocks Nosedive, When Will They Take Off Again?

|About: American Airlines Group (AAL), DAL, LUV, UAL

Many of the major airline stocks topped out in early July. Leading airlines such as Delta Air Lines, Inc.(NYSE:DAL), American Airlines Group Inc(NASDAQ:AAL), United Continental Holdings Inc(NYSE:UAL), Southwest Airlines Co(NYSE:LUV) and others carriers have been all been falling lower since that peak. This decline in the airline sector comes despite the low price of fuel. Traders should now watch these stocks closely as they come into very attractive support levels on the charts. 

One airline that is coming into a major support level is Delta Air Lines, Inc.(NYSE:DAL). This stock peaked out on July 13, 2017 at $54.48 a share, today DAL stock is trading at $44.45 a share. I will be watching the $42.00 area very closely for a long(Buy) side trade. This price level was defended in May 2017 and will likely be defended again when it is retested. 

Nicholas Santiago