Bullish on $DAL between now and earnings
Updated
Summary: 
DAL has been consolidating in a symmetric triangle pattern throughout June, with descending volume and pretty decent framing by the EMAs. This is likely a bullish continuation coming off of the May lows, with a gap above that still needs to be filled.
20 and 50 EMAs are both bullish, and have provided support for the triangle price channel.
Today and yesterday could be seen as a rejected downward breakout, it may consolidate for another day or two but I'm expecting an upward breakout by Fri/Mon.
100 EMA will act as resistance, soDAL will likely hover around there until earnings. No idea which way earnings will go - I assume it's bad news but everyone already knows it's bad news, so it could still make a run for the gap. If it does break down after earnings it should find support around $27.
What to watch out for: If a daily candle closes below $28.50 in the next few days, I'd consider it an official downward breakout and look for it to find support at the 50 EMA until earnings.
DAL has been consolidating in a symmetric triangle pattern throughout June, with descending volume and pretty decent framing by the EMAs. This is likely a bullish continuation coming off of the May lows, with a gap above that still needs to be filled.20 and 50 EMAs are both bullish, and have provided support for the triangle price channel.
Today and yesterday could be seen as a rejected downward breakout, it may consolidate for another day or two but I'm expecting an upward breakout by Fri/Mon.
100 EMA will act as resistance, so
DAL will likely hover around there until earnings. No idea which way earnings will go - I assume it's bad news but everyone already knows it's bad news, so it could still make a run for the gap. If it does break down after earnings it should find support around $27.What to watch out for: If a daily candle closes below $28.50 in the next few days, I'd consider it an official downward breakout and look for it to find support at the 50 EMA until earnings.
Trade closed: stop reached
Couple of daily closes below $28.50, looks like it was a real downward breakout, not a fakeout. Good luck at the 50 EMA, DAL =)
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