Delta Air Lines, Inc (DAL)

[ITMS]

Delta Air Lines, Inc. (NYSE:DAL) Flying Under The Radar

Leading airline stock, Delta Air Lines, Inc. (NYSE:DAL), has been pulling back since mid-October. At that time, DAL stock traded as high as $54.00 a share. Today, DAL stock is trading around $49.00 a share. The stock is now trading below the important 50 and 200-day moving averages. This tells me that the stock is in a weak technical chart position. Traders must now look lower for major chart support.

One lower level that catches my eye is the $45.50 area. This level is where the stock was defended in early September and will most likely be defended again when retested. Traders can look to buy DAL stock around the $45.50 level. It will also be important to place a stop loss under the $44.00 level on a weekly chart close. This trade setup should present a solid risk/reward opportunity with upside around the $56.00 area.



Nicholas Santiago
InTheMoneyStocks