Delta - DAL has been whipping the short sellers handily for the past couple of years. Each time the chart sets up a top formation where the price rolls over and triggers technical sell signals, the stock takes off and wipes out the short sellers.
This pattern has gone on a long time now and the chart has a new sell signal setting up which needs DAL to stay under $34.3 on Monday for it to trigger.
Stay tuned. The trendline looks so ripe to be broken with a decent decline in the shares of DAL.
Target 30-28, Risk 34.8, Last 33.53
Tim Sun, March 30, 2014 11:11PM EST
Comments
vlad.adrian
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Hello Tim, allthough you got stopped out, a short is still attractive in my opinion
dusan_zemun
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I would wait for $36 before shorting. Fundamentals look good.
timwest
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DAL went above my set-up threshold at 34.30. Note that I needed DAL to stay under 34.30 today for this trade to setup. It's the last day of the quarter, so some big trades will be setting up for moves this week. So, I'll have to revisit this from lower levels. Also, take a look at Southwest (LUV) as it's chart pattern is in a downtrend also on a short term basis.
Cheers, Tim 1:22PM EST Monday, March 31, 2014
Barker
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Took this short setup here from 34.44. Also short AET from 74.45