DAL – Delta Airlines

This is a 4 year monthly candlestick chart. It shows a breakout in progress for Delta Airlines where you probably want to continue to stay long for the next couple of months.

DAL’s share price broke above some major resistance from all the monthly bearish candlestick patterns. Any pullbacks of 5% or more are opportunities to jump in on DAL’s uptrend that is gaining momentum.

If DAL does re-test its breakout area, it would be around the $54-$56 price area. If DAL were to pullback to that price level, back up the truck…

The $65 price area may offer some resistance for the current uptrend and a pullback from that area could be the opportunity to jump in on a pullback.

Stay long until the Golden Ratio or the 161.8% Target Line is reached.

• This topic was modified 8 years by Limit5Bass.