DELTA AIR LINES INC (NYSE:DAL) Reveals Intriguing Technical Aspects. Here's What You Need to Know.

Our stock screener has spotted DELTA AIR LINES INC (NYSE:DAL) as a possible breakout candidate. A technical breakout setup pattern occurs when the stock is consolidating after a nice uptrend. Whether the actual breakout occurs remains to be seen of course, but it may be interesting to keep an eye on NYSE:DAL.

Zooming in on the technicals.

ChartMill assigns a proprietary Technical Rating to each stock. The score is computed daily by evaluating various technical indicators and properties. The score ranges from 0 to 10.

Overall DAL gets a technical rating of 7 out of 10. Although DAL is only a medium performer in the overall market, the technical picture looks good in both the medium and short term time frames.

• Both the short term and long term trends are positive. This is a very positive sign.
• In the last month DAL has a been trading in the 38.03 - 41.42 range, which is quite wide. It is currently trading near the high of this range.
• When comparing the yearly performance of all stocks, we notice that DAL is one of the better performing stocks in the market, outperforming 71% of all stocks. However, this relatively good performance is mostly due to a recent big move.
• DAL is part of the Passenger Airlines industry. There are 24 other stocks in this industry, DAL did better than 60% of them.
• DAL is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so DAL is lagging the market.

For an up to date full technical analysis you can check the technical report of DAL

How do we evaluate the setup for NYSE:DAL?

Next to the Technical Rating, the Setup Rating of a stock determines to which extend the stock is consolidating. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. For NYSE:DAL this score is currently 9:

DAL has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately. There is a resistance zone just above the current price starting at 40.86. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 40.50, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.

How can NYSE:DAL be traded?

A breakout could materialize when the stock breaks out to new highs above the current consolidation zone. One could wait for this to happen and buy when this happens. A stop loss could be placed below the consolidation zone.

Disclaimer: This article is not intended to provide trading advice. It is crucial to conduct your own analysis and consider your own observations and trading style when making investment decisions. The article solely presents technical observations and should not be relied upon as a sole basis for trading.

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Disclaimer

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents observations created by automated analysis but does not guarantee any trading or investment outcomes. Always trade responsibly and make independent judgments.