DAL closes higher for the 2nd day in a row

Delta Air Lines (DAL) Technical Analysis Report for Jul 13, 2018

Highlights

DAL closes higher for the 2nd day in a row
DAL rises to highest close since June 26th
DAL closes within previous day's range after lackluster session

TQ Sentiment

Report Sentiment: 0% Neutral
Technical Forecast:

Overview

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.

Daily chart for DAL

Volatility

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.

Price Action

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.

Support/Resistance

Prices are trading close to a key support level at 50.32. Prices are trading close to the key resistance level at 51.28.

Trend

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.

Order Flow

Buying could speed up should prices move above the nearby swing high at 51.28 where further buy stops might get triggered.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for Delta Air Lines

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DAL soars 2.55% on high volume

Sep 21, 2018
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