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

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bullish 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 $56.14 and $56.54 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. Traders and investors interested in shares of Delta Air Li may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

In the past 52 weeks, shares of Delta Air Li have traded between a low of $47.33 and a high of $63.44 and closed yesterday at $55.90, which is 18% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has remained constant.

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

Delta Air Li has overhead space with shares priced $55.90, or 22.2% below the average consensus analyst price target of $71.82. Delta Air Li shares should first meet resistance at the 200-day moving average (MA) of $57.32 and find additional resistance at the 50-day MA of $57.99.

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: bullish am inside day candle delta air li

Ticker(s): DAL