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Where should I put my Money? Part 1The S&P 500 was down almost 3% yesterday! Big name stocks are falling, and it seems like there is no good stocks to run to. Well, the airline industry might actually be the best place. In march 2021, they started to peak and took a 15% correction. Now, rising rates could actually be good for them. This is because rising rates show a sign of economic demand or growth, and obviously this is great for airlines. Oil is also reaching new highs, which could show that the airlines are going to be flying a lot. Technically, Delta airlines just broke out of a falling wedge they were in, followed by a rising RSI, which shows momentum. Yesterday, when the average 500 largest companies were down almost 2-3%. Delta airlines outperformed, and only went down .5%. This is the sector you want to be in. Thanks
NYSE:DALLong
by SmartVest
Education excerpt: Classic Chart FormationsIntroduction The part of technical analysis studies chart patterns. Rationale behind this practice is that chart patterns have fractal nature which represents ability of a trend to act similarly over different time periods. Chart patterns are basically configuration of price that is bounded above and below. Boundaries are commonly derived either from a line or a curve. Lines, for example, can be represented by simple horizontal lines or trend lines. Curve, on the other hand, is rather reminiscent of an arc or a bow in its shape. Boundaries in chart patterns can often act as support or resistance. All chart patterns have their development stages. There is first stage which describes the trend preceding the formation and then there is second stage which usually triggers the signal for action. In the first stage of pattern formation analyst merely observes price action and waits for signal to be triggered. This stage can also be called setup. The second stage then begins with signal being triggered. Trigger can, for example, come in a form of a crossover (by indicator, price, etc.) or breakout. In this stage analyst takes action and either enters or exits the market. Entry can be placed from above or from below. Similarly, exit can be downward or upward. The variables of entries and exits are statistically important because some combinations of entries and exits tend to produce better results than other combinations of entries and exits. The chart patterns can be subdivided in two groups: continuation patterns and reversal patterns. Continuation patterns are associated with continuation of trend that was present prior to the formation of a continuation pattern. On the other hand, reversal patterns are associated with reversal of trend that was in place prior to the formation of a reversal pattern. Double Top and Double Bottom Double top and double bottom formation is very simple pattern that is well known to many professional and retail traders. It consists of three reversal points. For double top these reversal points are: two peaks and one trough. Opposite to that, for double bottom formation reversal points are: two troughs and one peak. Price enters double top formation from below and double bottom formation from above. Peaks in double top and troughs in double bottom should not be apart from each other’s price level more than 5%. Double top and double bottom normally forms over two to six weeks. If formation takes longer then it starts becoming less reliable. Double top is valid only when point separating two peaks was penetrated. Similarly, double bottom is valid only when point isolating two troughs was penetrated. Illustration 1.01 Picture above depicts graph of General Motors stock on daily timeframe. It is observable that price touched resistance line twice before reversing to the downside. Rectangle Rectangle is simple pattern that is bound by two horizontal lines that are parallel to each other. These lines acting as boundaries are called: support and resistance. Each boundary must also be a trend line. That means it must touch approximately same price reversal level at least twice. This particular requirement is what separates it from a double bottom or a double top formation. Price tends to oscillate between two bounds in the rectangle pattern. Then trigger comes in a form of breakout above resistance or below support. Illustration 1.02 Picture above depicts graph of Pepsico stock on daily timeframe. It is observable that price action is sideways in this example. Price oscillates between resistance and support lines with occasional false breakouts below support. Triple Top and Triple Bottom The triple top and bottom pattern is bounded by horizontal line similarly like double top and bottom formation. However, this pattern differs from double formation in that it has three touches to the support or resistance line instead of just two touches. Triple top and bottom tends to occur with lower frequency in comparison to the rectangle and double formation. In triple top each peak should be roughly at the same level and each peak should have similar shape. Confirmation for triple top comes once troughs are penetrated to the upside. Triple bottom is basically mirror image of triple top and confirmation comes once breakout above peaks takes place. Pullbacks are very common for this formation and they tend to reduce breakout potential. Standard Triangle Triangle pattern is bounded by two lines that are crossing each other when they are extended to the future. Triangle pattern has its base and apex. Point of collision between two lines is called apex while base is basically a distance between the first high reversal point and the first low reversal point within triangle pattern. This pattern should consist of least two touches to the support line and another two touches to the resistance line. Standard triangle can be either symmetrical or ascending, or descending. Symmetrical triangle is considered to be continuation pattern while ascending and descending triangle is mostly regarded as reversal pattern. In symmetrical triangle both boundaries are at slope. In ascending triangle only lower bound is at slope while upper bound is horizontal. Contrary to that, in descending triangle upper boundary is at slope and lower bound is horizontal. These patterns are validated once breakout above or below boundary takes place. Another form of confirmation comes when breakout from an apex of triangle occurs. Illustration 1.03 Picture above shows daily graph of TSLA stock. Formation of symmetrical triangle is observable. Diamond top Diamond top formation is rare broadening pattern that is very difficult to observe. It combines two triangles and can be imagined as mirror image of triangle pattern followed by triangle pattern. Price range increases and then decreases throughout this formation. Wedge A wedge pattern is simply a triangle pattern with both trend lines being at slope and pointing to the same direction. There are two types of wedges: a rising wedge and a declining wedge. A rising wedge consists of trend lines that point upwards while declining wedge contains trend lines that point downwards. Illustration 1.04 Illustration above shows daily graph of DAL stock. It is visible that confirmation came after breakout above upper bound. After that price continued to rise. This pattern is very bullish once confirmation occurs. Rounding Top and Rounding Bottom Rounding top and bottom patterns are longer term formations that are bounded rather by an arc than horizontal line. Rounding of the pattern usually spans over long time and it tends to contain short term trends within its formation. Another interchangeable name for these formations is: saucer or bowl, or cup. There is also variation of this pattern that develops over shorter period of time and it is called scallop. Volume in rounding top tends to gradually increase as price increases towards the peak of the formation. Then it tends to fall as price decreases from the peak. Similarly, in rounding bottom volume tends to decrease as price is approaching a low. After that volume tends to increase as price starts to rise from a low. Head and shoulders Head and shoulder pattern is one of the most famous chart patterns with statistical significance and very high profitability. It is complex pattern that combines trend lines, support or resistance lines, and rounding. Head and shoulders pattern is normally preceded by uptrend while inverted head and shoulder formation is preceded by downtrend. This pattern is considered to be reversal pattern where head and shoulders is topping formation and inverted head and shoulders is bottoming formation. Pattern's structure consists of head, shoulders and neckline. Head is either high in topping formation or low in the bottoming formation. Neckline in topping pattern is simply trend line which connects two troughs that separate head and shoulders. In bottoming formation neckline connects two peaks that separate head and shoulders. Illustration 1.05 Picture above shows daily graph of Pepsico stock. Inverted head and shoulders pattern is obsrvable bottoming head and shoulder pattern is formed by three troughs. The second trough must belower than the first and the third trough. The first trough is called left shoulder and third trough is called right shoulder. Middle trough is called head. Shoulders do not have to be the same height. Because of that neckline can be at slope in head and shoulder formation. Confirmation in this pattern comes once neckline is penetrated. Disclaimer: This content is just an excerpt from full document that will be available later with full range of illustrations and more detail. Purpose of this content is education.
NYSE:DALEducation
by Tradersweekly
8
Looking for positive Delta on DALIn my livestream last Friday I talked about how I like the stock Delta NYSE:DAL . I like the company because any time I fly this company is going to be my choice. It's properly priced for its value compared to other airlines. Granted, there are unique risks that airlines face such as fuel costs and accidents but people will always need to travel from A to B. I would not enter a trade without a technical setup and risk definition. The level DAL is holding represents both a long term Retracement from the 2020 crash and a short term Retracement from the Q4 2020 bull trend. The short term consolidation creates lows that must hold to remain a valid bullish trade. I took both shares and options (Feb 2022 48 Calls) to express this trade.
NYSE:DALLong
by norok
Delta bounced, what's next?As you can see, Delta managed to bounce back again after re-testing the "37.82" support level for the third time, forming a possible triple bottom pattern, in which a trend change to the upside is expected. Looking at my chart, I expect Delta to breakthrough both "0.786" resistance levels on both the Fibonacci retracement and channel, rallying all the way to touch the supertrend line/200ema target. At those levels, I would expect a pullback to re-test the "0.786" Fib retracement to confirm support, and then the rally continues, trading back again above the 200 ema. This is not financial advise, but just an idea of a possible scenario we may encounter on the next few days. Likewise, it is possible that my idea gets affected by news/actions that may affect the overall market. I will try to update on this idea for the next few days.
NYSE:DALLong
by SnKwashin
2
November is its seasonality's bullish monthI respect its seasonality (free from Stockcharts . com) I used my biased Fibonacci channel to determine a stock major trend, minor oscillations, as well as entries/exits from trading. The Fibonacci channel is a technical analysis tool that is used to estimate support and resistance levels based on the Fibonacci numbers. It is a variation of the Fibonacci retracement tool, except with the channel the lines run diagonally rather than horizontally. The lines from the channel is used to aid in identifying where support and resistance may develop in the future. If the uptrend is expected to continue, the 100%, 161.8%, and other higher levels are potential price targets. The same concept applies to downtrends if a downtrend is expected to continue. In an uptrend, the zero-line is like a normal trendline, helping to assess the overall trend direction. If the price falls below it, it may need to be adjusted based on more recent price action, or it could signal that the uptrend is over and that the price is breaking lower. In a downtrend, the zero-line also acts like a trendline. When the price is below it, it helps confirm the downtrend. If the price moves above it, the indicator may need to be redrawn or the price is moving higher out of its downtrend. Fibonacci channels are highly subjective. The trader chooses three points they deem to be significant, yet the market may not view these points as significant and thus may not respect or react as expected to the drawn levels. One of the complaints with Fibonacci analysis, in general, especially on short-term charts, is that there are so many levels that the price is likely to reverse at or reach one of the levels. The problem is knowing which level will be important in advance.
NYSE:DAL
by KhanhC.Hoang
🟢 $DAL Target 51.21 for 21.87% (Risk Level - LOWER MED)🟢 $DAL Target 51.21 for 21.87% (Risk Level - LOWER MED) Next add at 37.50 Or double position at 32.83 I posted this one yesterday but they I got the dreaded 24 hr TV flag restriction 😬 I couldn't chat either 🤣... haha... it's ok... ----- — On the far right of the chart is my Average (Grey) Current Target (Green), and Next Level to add (Red) Percentage to target is from my average. Numbers with an A are places that are a good idea to add if you can. Numbers with a D are places where you should double your position. I start every position with .5 - 1% of my account and build from there as needed and as possible. I am not your financial advisor. Watch my setups first before you jump in… My trade set ups work very well and they are for my personal reference and if you decide to trade them you do so at your own risk. I will gladly answer questions to the best of my knowledge but ultimately the risk is on you. I will update targets as needed. GL and happy trading.
NYSE:DALLong
by SPYder_QQQueen_Trading
4