This time last year, oil was $63 per barrel and Delta was trading @ $47 per share. In comparison, WTI is now trading @ $38.35/bbl, representing a more than 60% year-on-year decline. According to AviationDB, Delta’s fuel costs as a percentage of operating expenses was 18% in Q2 2015, down from 39% in 4Q 2014.
Purchased DAL just above the illustrated blue ascending/descending . Since then, a breakout has been confirmed with shares swiftly moving through the $48 neckline / 50 & 20 DMA / and previous level. As of the time of this post (12/7/15 - 11:10am EST), my gains are 9.18%. Expect additional upside, as depressed oil prices will continue to serve as a tailwind for Delta's stock. Raising my stop loss to just below $48.