November 8 Chart of the Day - Delta Airlines
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After peaking around $50 per share this past summer with travelers getting back to the skies Delta Airlines (DAL) stock price has drifted lower recently popping up just before reaching $30.
On the monthly chart we can see that a 3 year old trend line may have had something to do with that...
Trading around $34.50 earlier today can holiday passenger traffic help lift price or could it be strictly due to price action technical analysis?
Down on the weekly chart we see that upside targets for this current bull pop could be $40 or above.
Should things really begin to "take off" for Delta $50-55 is in play. However, should this currently rally stall and break and hold below the 3 year trend line then $22-$25 could be the downside targets.
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
Take a look at the charts and let us know what you think.
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