Do Planes Fly? (DAL)Symbol: DAL
Sector: Airlines
Delta airlines is currently testing rock bottom.
Horizontal support at low of 21.26 needs to hold or we could see sell off.
Adding to this position at current price I like.
We are closing with lower highs down over 190%
We have so far attacked support area 4 times almost directly and held.
What we would like to see next is price to hold support and start to curve into the gray triangle as our pennant compresses. Then look for breakout above the black dashed line.
First target 24%
Second target 56%
Third target full recovery 190%
Great opportunity, this is the patterns we want to focus on.
It is ideal to wait for the Crossover and than the breakout for a strong confirmation.
Limit at 21.26 see if we can get filled and set a tight stoploss and play that level closely in case of break down.
I will stay updated on Delta Air Lines on this post below.
