April 9 Chart of the Day - Delta Airlines
Highly precise price action technical analysis offers the strongest trading edges and the most opportunities across the markets, making it the foundation of our reviews.
Delta Airlines (DAL) posted strong Q1 results, beating expectations on both revenue and profit.
Shares had fallen 15% last week as markets dropped 12% on rising trade tensions. But after a pause in tariffs and a closer look at earnings strength, the stock bounced back - surging 23% today. Forward guidance remains cautious, reflecting broader economic uncertainty.
Consistent profitable investing and/or trading requires a structured, rules-based approach to price action analysis. Proven processes, disciplined risk-reward management, and precise execution create the foundation for long-term success.
When combined with powerful mental performance strategies, this method becomes the ultimate blueprint for thriving in any market, on any time frame.
As requested, this analysis will take a price action technical analysis approach to assess key levels and potential next moves for the stock.
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Monthly Chart
On the monthly chart we can see that after reaching an all-time high of $69.98 back in January the stock experienced a sharp decline to around $35.
It seemingly is staging a strong rebound, climbing back up near the $45 level sparking hopes among investors that it may eventually revisit the all-time high zone.
While these are technically valid price action cycles, they remain largely out of favor with investors.
Weekly Chart
On the weekly chart we can see with much more clarity the volatile up and down cycles.
Price could face a significant challenge in the form of potential overhead resistance in the $45-$47 range.
Nonetheless, it’s evident that for over ten years, price consistently formed higher highs and higher lows - signaling a long term up trend.
One thing is certain in the markets: price moves in cycles. It rises and falls across all time frames and charts, and never travels in a straight line.
Only time will tell for sure what price will do next...
We've layered in traditional Fibonacci levels as well as support/resistance and trend to help identify potential price levels of interest and/or future price targets.
Armed with precision oriented charts like these both traders and investors can formulate their respective plans.
So what's next?
We don't make predictions...
Nobody knows for sure but using these 5 price action tools traders and investors can develop levels of interest in both directions.
- Support/Resistance
- Trend
- Fibonacci
- Supply/Demand Zones
- Change Control Zones
ChartPros provides the exact methodology in its price action technical analysis courses to create charts like this with the most precise and accurate levels from which investors and traders can formulate their respective trade plans.
Take a look at the charts and let us know what you think. We'd like to hear from you in the comments sections.
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