TheProfitcy
Long

DAL Long - Bull Flag Consolidation

NYSE:DAL   DELTA AIR LINES, INC. COMMON STOCK
The idea here isn't very difficult to understand. DAL has made a run up from $35.51 on August 8th, where we saw a bounce off the 150EMA, a personal favorite area to get long for me, especially looking at the weekly chart for this. Anyways, from the top down:

1) Bullish RSI Holding 60 Support
2) Established Uptrend - Long Term
3) Bounce off 150 EMA
4) Long $4.46 move straight up through all EMA (8/21/50), through resistance, and consolidating above.
5) Broken Downtrend
6)Weekly Uptrend Is Beautiful - Right At EMAs (8/21)
(My Screen Is Too Small To Pull Up Both Simultaneously)

Cons:

1) MACD Is Positive
2) Momentum Tapering As We Consolidate

I like the chart, and like what I see. I'm getting long here. Possibly with a covered call, but maybe something else. Not sure what other plays are available with such low volatility , but the verticals and diagonals are getting old.
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