Delta Airlines (DAL) Stock Chart Follow-Up
This Delta Airlines (DAL) stock chart update will review the price action for DAL's share price as it progresses towards some of its price targets. For a refresher on the price targets I established, take a moment and go back to read the previous article titled "3/7/2017 – Delta Airlines (DAL) Stock Chart Review".
In that previous update, I suggested that if DAL's share price did have one last push upwards, it should find support around the $46 area during its current pullback.
Let's start out with a 5 year monthly candlestick chart. As of Friday's market close, DAL's closing share price was at $45.96, basically right at the $46 support area I discussed in the previous update. As illustrated previously, there is a strong confluence of longer-term bearish candlestick patterns all in the same price area. Getting through the resistance areas created by all these bearish candlestick patterns is going to take some good news and above average buying volume. Right now though, the trend for its share price is down, as anticipated in the previous article.
The MACD Histogram reflected a little bit of selling momentum in March 2017. Based on this, one could imagine a continued slight selling of shares into its upcoming earnings report in 2 weeks. Especially considering the.................
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