TradeCobra

Do Planes Fly? (DAL)

NYSE:DAL   DELTA AIR LINES INC
Symbol: DAL

Sector: Airlines

Delta airlines is currently testing rock bottom.
Horizontal support at low of 21.26 needs to hold or we could see sell off.
Adding to this position at current price I like.

We are closing with lower highs down over 190%

We have so far attacked support area 4 times almost directly and held.

What we would like to see next is price to hold support and start to curve into the gray triangle as our pennant compresses. Then look for breakout above the black dashed line.

First target 24%
Second target 56%
Third target full recovery 190%

Great opportunity, this is the patterns we want to focus on.
It is ideal to wait for the Crossover and than the breakout for a strong confirmation.

Limit at 21.26 see if we can get filled and set a tight stoploss and play that level closely in case of break down.

I will stay updated on Delta Air Lines on this post below.
Comment: drop it some more
Comment: this is a very aggressive play, keep in mind that the weekly is strong bearish. Usually we look for a green compression on weekly. But we do have this squeeze set up. So we will be more aggressive
Comment: We are now approaching the support area
Comment: 20.50 - 21 I want hit
Comment: stacking orders at green levels
Comment: Orders are cleared. I'm going to let It breathe and not be so aggressive. See how these lows want to hold up.
Comment: Good thing I pulled out lol. Trust the weekly

Comments

ill buy it when it hits 10~
+3 Reply
TradeCobra AndersonAES
@AndersonAES, awesome, first is to crack this support
Reply
It´s not good investment! WB sold it!
+2 Reply
TradeCobra WholeAdvisors
@WholeAdvisors, thank you for your advice. Appreciate it
+2 Reply
TrendsOutlook WholeAdvisors
@WholeAdvisors, like WB is God or something. Old man gets it wrong too
+3 Reply
WholeAdvisors TrendsOutlook
@TrendsOutlook, Buffett is not a god, and as a human he is wrong and this has happened other times, but if you take into account the current crisis that is serious and that an investor with his experience sells all the airlines, it is not that there are many possibilities of being us gods but something is going on.
+1 Reply
been following, looks like 19.10 is the new support but this stock is just making new lows daily. Think just monitoring it is the best option at this point.
+1 Reply
TradeCobra JackbeNimble72
@JackbeNimble72, definitely! Just letting it breathe , not a good sign
Reply
Hello ! Do you use the normal heinkin ashi type ?
+1 Reply
TradeCobra UnknownUnicorn4732309
+1 Reply
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