Thursday, January 03, 2019 11:46:07 AM
This morning, Delta Air Lines Inc (NYSE:DAL) warned fourth-quarter revenue would be slightly below its prior forecast. The stock is trading lower by more than 8.0 percent to $45.80 a share. The stock is now trading below its important 200-week moving average. This pattern usually indicates further weakness ahead. Traders and investors should now watch the $43.50 area as the next major support level. This area is where the stock was defended in April 2017 and will likely be defended again when retested. Please remember, Delta is scheduled to report earnings on January 10th 2019 before the opening bell.
Nick Santiago
InTheMoneyStocks
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