Delta Airlines (DAL) Rising Nicely

(Click on image to enlarge)

Delta airlines DAL weekly chart

Delta Airlines is a stock I first highlighted back on October 23rd when it was trading at $33.72. The reason I had this on my watchlist was simple. The chart was a classic buying climax and therefore signaling a new campaign was being prepared with the stock set to rally on any low volume tests. Since then we have seen the price rise nicely and closing last week at $41.06 with an upspread candle on good volume. This had been preceded in the previous week with a decline in selling volume and therefore a good sign of a further move higher which was duly delivered. So where next for this stock? As we can see from the weekly chart there is little in the way of price resistance from the accumulation and distribution indicator, the next level well above is at $49.50 denoted with the blue dashed line. In addition, volume on the VPOC histogram falls away dramatically above $40 per share and through to $50 per share, so all good news on this timeframe, and as such we can expect to see Delta Airlines continue to gain height over the coming weeks, perhaps with the tailwind of any Santa Claus rally also helping.

Disclaimer: Futures, stocks, and spot currency trading have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in ...

How did you like this article? Let us know so we can better customize your reading experience. Users' ratings are only visible to themselves.


Leave a comment to automatically be entered into our contest to win a free Echo Show.