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

By Shiri Gupta

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. Today's price range of $57.30 and $57.59 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. 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 25.2% exists for Delta Air Li, based on a current level of $57.36 and analysts' average consensus price target of $71.82. The stock should discover initial support at its 50-day moving average (MA) of $56.26 and subsequent support at its 200-day MA of $55.45.

Over the past year, Delta Air Li has traded in a range of $45.08 to $63.44 and is now at $57.36, 27% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.2% while the 50-day MA has remained constant.

Delta Air Lines, Inc. provides scheduled air transportation for passengers and cargo in the United States and internationally. The company operates through two segments, Airline and Refinery. Its route network is centered on a system of hubs and markets at airports in Amsterdam, Atlanta, Boston, Detroit, London-Heathrow, Los Angeles, Mexico City, Minneapolis-St. Paul, New York-LaGuardia, New York-JFK, Paris-Charles de Gaulle, Salt Lake City, São Paulo, Seattle, Seoul-Incheon, and Tokyo-Narita.

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 inside day candle delta air li

Ticker(s): DAL