Delta Air Lines, Inc. (NYSE:DAL) Flying Under The Radar

Nov. 14, 2017 12:22 PM ETDelta Air Lines, Inc. (DAL)

183 Followers

Please Note: Blog posts are not selected, edited or screened by Seeking Alpha editors.

Contributor Since 2009

InTheMoneyStocks.Com is a research and consulting company focused on mathematical proprietary techniques along with a key understanding of price, pattern and time. Through understanding geometry and other technical analysis methods, InTheMoneyStocks.Com prides itself on avoiding Wall Street hype while calling major and minor moves in the DOW, NASDAQ and S&P, commodities, currencies and stocks. Mission Statement: Our goal is to provide accurate and precise market guidance without the Wall Street hype.

Leading airline stock, Delta Air Lines, Inc. (NYSE:DAL), has been pulling back since mid-October. At that time, DAL stock traded as high as $54.00 a share. Today, DAL stock is trading around $49.00 a share. The stock is now trading below the important 50 and 200-day moving averages. This tells me that the stock is in a weak technical chart position. Traders must now look lower for major chart support.

One lower level that catches my eye is the $45.50 area. This level is where the stock was defended in early September and will most likely be defended again when retested. Traders can look to buy DAL stock around the $45.50 level. It will also be important to place a stop loss under the $44.00 level on a weekly chart close. This trade setup should present a solid risk/reward opportunity with upside around the $56.00 area.

Nicholas Santiago

InTheMoneyStocks