1. DAL closed as a doji candlestick right off support on the symmetrical triangle (purple line) and as well as off a horizontal support line ($22.19).
2. While we see a horizontal support line @ 22.19, the RSI is showing an up trending support line starting from 4/06... bullish divergence!
3. Zooming into the 3H chart, we see a bullish piercing candlestick following by a doji closing above previous candlestick close -- ultimately forming a bullish harm cross (last two candlesticks).
4. MACD crossed on the 1H chart, while 8MA is currently below the 21MA
Ultimately, I believe it can reach $29-30, and eventually $37 in the coming weeks with news (reopening the economy) being a huge catalyst of course.
**Looking to start a nice small long position on DAL**
2. While we see a horizontal support line @ 22.19, the RSI is showing an up trending support line starting from 4/06... bullish divergence!
3. Zooming into the 3H chart, we see a bullish piercing candlestick following by a doji closing above previous candlestick close -- ultimately forming a bullish harm cross (last two candlesticks).
4. MACD crossed on the 1H chart, while 8MA is currently below the 21MA
Ultimately, I believe it can reach $29-30, and eventually $37 in the coming weeks with news (reopening the economy) being a huge catalyst of course.
**Looking to start a nice small long position on DAL**