• Return to Headlines

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

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Delta Air Lines (NYSE:DAL) based on the price action in the company's shares. Today's price range of $49.00 and $49.46 is within yesterday'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 Lines may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

Over the past year, Delta Air Lines has traded in a range of $32.60 to $52.77 and is now at $49.31, 51% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 1.1%.

Delta Air Lines (NYSE:DAL) has potential upside of 24.5% based on a current price of $49.31 and analysts' consensus price target of $61.38. Delta Air Lines shares have support at the 200-day moving average (MA) of $47.12 and additional support at the 50-day MA of $46.85.

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 recommended that subscribers consider buying shares of Delta Air Lines on April 25th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $47.13. Since that recommendation, shares of Delta Air Lines have risen 4.0%. We continue to monitor DAL for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish inside day candle Delta Air Lines

Ticker(s): DAL