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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 $41.80 and $42.49 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.

Delta Air Lines share prices have moved between a 52-week high of $52.77 and a 52-week low of $34.61 and are now trading 22% above that low price at $42.20 per share. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 0.3%.

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 Lines (NYSE:DAL) has potential upside of 45.3% based on a current price of $42.20 and analysts' consensus price target of $61.33. The stock should run into initial resistance at its 200-day moving average (MA) of $47.17 and subsequent resistance at its 50-day MA of $47.35.

SmarTrend recommended that its subscribers protect gains by selling shares of Delta Air Lines on April 7th, 2016 by issuing a Downtrend alert when the shares were trading at $46.30. Since that call, shares of Delta Air Lines have fallen 10.0%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: bullish inside day candle Delta Air Lines

Ticker(s): DAL