DAL closes higher for the 2nd day in a row
Delta Air Lines (DAL) Technical Analysis Report for Jul 13, 2018
Moving higher for the 2nd day in a row, DAL finished the week 2.4% higher at 50.77 after edging higher $0.04 (0.08%) today. Today's closing price of 50.77 marks the highest close since June 26th. Closing within the prior day's range, prices failed to decisively move past the previous day's trading range in a lackluster session.
Friday's trading range was $0.66 (1.31%), that's far below last trading month's daily average range of $1.12. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being above average.
During the whole day, prices traded within the prior day's range, unable to trade above the previous day's high or below the prior day's low forming an Inside Bar.
Prices are trading close to a key support level at 50.32. Prices are trading close to the key resistance level at 51.28.
While Delta Air is experiencing a short-term up trend, this might just be a correction, as both the medium and long term trends are still in negative territory.
Buying could speed up should prices move above the nearby swing high at 51.28 where further buy stops might get triggered.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
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