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Possible Bearish Inside Day Candle Pattern Detected for Delta Air Li (NYSE:DAL)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Delta Air Li (NYSE:DAL) based on the price action in the company's shares. Yesterday's price range of $47.59 and $48.67 is within the prior day's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Delta Air Li may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Potential upside of 47.4% exists for Delta Air Li, based on a current level of $48.73 and analysts' average consensus price target of $71.82. Delta Air Li shares should first meet resistance at the 200-day moving average (MA) of $54.03 and find additional resistance at the 50-day MA of $54.03.

Over the past year, Delta Air Li has traded in a range of $45.08 to $61.32 and closed yesterday at $48.73, 8% above that low. The 200-day and 50-day moving averages have moved 0.3% lower and 0.89% lower over the past week, respectively.

Delta Air Lines, Inc. provides scheduled air transportation for passengers, freight, and mail over a network of routes throughout the United States and internationally.

SmarTrend is tracking the current trend status for Delta Air Li and will alert subscribers who have DAL in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish am inside day candle delta air li

Ticker(s): DAL