$DAL - Descending channel breakout playDelta airline has been in a descending channel and it is currently heading towards the upper trend line of the channel. If the price breaks above $44, the pattern breakout is confirmed and could travel further up to $54 area.
Target 1 - $44
Target 2 - $54
Risk - Rejected from trend line and revisit $35 area.
Traders should raise the stop loss as the price travels upwards.
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How to read my charts?
- Matching color trend lines shows the pattern. Sometimes a chart can have multiple patterns. Each pattern will have matching color trend lines.
- The yellow horizontal lines show support and resistance areas.
- Fib lines also show support and resistance areas.
- The dotted white lines show the price projection for breakout or breakdown target.
Disclaimer: Not investment advice.