$DAL Delta Air Lines Descending Triangle$DAL Delta Air Lines - possible bearish long term descending triangle forming. Monitor for definitive heavy volume break of $51 support level.
DAL trade ideas
DAL - Do You Know "Wolfe Waves"?BREAKING DOWN 'Wolfe Wave'
If identified correctly, Wolfe waves can be used to accurately predict the scope (equilibrium price) of the underlying security. To identify Wolfe waves, they must have the following characteristics:
Waves 3-4 must stay within the channel created by 1-2
Wave 1-2 equals waves 3-4 (shows symmetry)
Wave 4 is within the channel created by waves 1-2
There is regular time between all waves
Wave 5 exceeds trendline created by waves 1 and 3 and is the entry point
The estimated price is a price along the trendline created by waves 1 and 4 (point 6).
DELTA AIR LINES (DAL), HAS BEARISH HEAD & SHOULDER PATTERN!!Would be selling stock and/or doing Bearish Put Credit Spreads, until around $45 area. DAL has earnings report scheduled for 4/12/2018 (FYI).
Daily Bullish and/or Bearish Head & Shoulder patterns are powerful and should be respected. Good luck and Good trading.
DELTA AIRLINESDELTA GOING DOWN WITH SIGNIFICANT VOLUME???
I think that Delta Airlines is going down potentially past the 52.00 price level. Prices could of course have strong reversal near the V, are you prepared to ''BUY THE DIP'' One way to play this is to take half your profits off the trade as prices are approaching the 54.00 price level. If however you believe prices to go through the V, I think you need to be paying attention to the volume on this. As prices often penetrate the V with strong volume , your next target if this did occur would be near the 48.00 price level . It's up to you how you play this. I would be very cautious as prices approach the 54.00 level . It's totally up to you how you play this, with put options in this sort of scenario favours are in your favour regardless(2/3). It's just about maximising profits.
Ending diagonal is an other optionNYSE:DAL
As I mentioned (see link below) DAL might also be in an ending diagonal. On the basis of the Stochastic and RSI indicator I think it is probable, and there is a couple of weeks before it reaches the overbought territory. But in this case watch out for a sharp decline!
DAL longDAL has been heading up, and I think it might go farther. If it looks like a bounce is due on the latest resistance-turned-support then I'll buy around $56, stop at $55 and sell at $58. I only expect the trade to take 3-4 days.
On the flip side, a short position could work in the opposite scenario.
