Flag Pattern on Delta Airlines - Bullish breakout expectedToday we will make a Daily and a 1h analysis on Delta + the setup we will take on this asset.
Daily Chart:
On the daily chart, we can see a Clear support zone and a resistance zone. The price is above the support zone, and we can project a bullish movement towards the next zone (Resistance)
On the 4hs chart, we will understand the setup:
Here we can see a Flag Pattern above the support zone.
Flag Patterns are considered continuation structures. That means that if we have a breakout of it, we can expect a continuation of the previous trend.
Our entry-level is a stop order at 42.88 / Stop level is at 38.25 / Break-even level is at 47.01 / Take profit at 50.76
The risk-reward ratio on this setup is 1.7, and we expect a resolution of 30 days.
If the price goes below the stop level without executing the setup, we will consider that the view is no longer valid.
Thanks for reading!
