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This Airline Is Flying Under The Radar

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ITMS Member Level  Tuesday, 05/15/18 12:07:21 PM
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Post # of 431 
This Airline Is Flying Under The Radar

As you all know, energy prices have been on the rise. If we have learned anything from the past, when energy costs increase the airline stocks will usually come under selling pressure. Spot crude is now trading around $71.00 a barrel and expected to climb in the near term. There are numerous problems developing in the Middle East and this is certainly one catalyst for the strong oil prices. Then there is the OPEC production cuts which are also helping to keep energy prices elevated at this time.

One airline that has been weak since mid-January is Delta Air Lines Inc (NYSE:DAL). This airline actually owns an oil refinery and benefits when oil prices are high. Essentially, Delta Air Lines (NYSE:DAL) has protection against the risk of high crack spreads. A crack spread is a term used in the oil industry for the differential between the price of crude oil and petroleum products it makes like jet fuel.

Delta Airlines stock peaked on January 16th, 2018 at $60.79 a barrel. Today, DAL stock is trading at $52.40 a share. Traders should note that DAL stock is now below its important 50-day moving average. This chart formation puts the stock in a weak technical position in the near term. The next major support area for the stock will be around the $49.00 level. This is where the stock was defended in early February 2018. Generally, the institutional crowd will step in and defend the equity when it is retested.




Nicholas Santiago
InTheMoneyStocks

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