This candle pattern is called an abandoned baby. Price usually recoils from it, and today's gap was a confirmation. Even if the correction will extend in the overall market, with such a rare pattern I'm very confident that Delta will rally in the coming days/weeks.
weekly here :
Delta Air Lines is down almost 14% from its high on 07 01 14.
1st and 2nd downside objectives - the green circles that are up and right and to the left of the price, respectively - were reached today.
short term oversold.
looking to sell my position today although I might get back short in the near future.
Volatility the last 2 days in DAL makes it look risky to short DAL here, but the "range movement" made a two-month low. We can wait for an overbought reading to sell short OR sell short some here and some on a little rally.
Leave some to sell short on a decline under the current lows AFTER a bounce.
Looking for 10% to 15% down in DAL.
Tim 38.17 -2.14 last...
I see this pattern way too many times in different
financial instruments, but no one ever gave it a name.
It is one of the best patterns in the system I use, it might
actually be the best. I call it a corrective double bottom
because it is a double bottom after a small correction
in an uptrend. Price usually soars after a pattern like this, the
double bottom...
Price of oil spike, DAL completing an ABCD pattern, where suspect Bollinger band and bottom trend line of channel meet and have lunch. But where they have lunch depends on who is picking up the tab, the US in Baghdad, or Iran in Kuwait? If the US does not prevent the spread of ISIS through Baghdad, which not sure if Iran or the US really cares about that,...
Historically this took some steam off the run, giving a good entry position. Although RSI top is not lower, it is not higher while the stock price took a decent step up on lower volume. Short term small pullback may be in play to the previous resistance
Can someone please explain to me why the money flow is so low, but stock price close to upper trend of channel and RSI and MACD also very high? I think DAL and IYT (transports etf) overdue for correction, and since this sector has been best of bread in an otherwise stalled market, I think the smart money has already flowed out and sitting pretty, while those not...
Delta's wonderful earnings, stock buyback announcement and dividend increase has bulls feeling very comfortable, but the chart is showing that the IWM is pointing down and in a corrective phase. This performance difference has brought about a wide disparity in the price of DAL versus the IWM. DAL could just hold onto these prices and IWM could rebound to catch...
Delta Air Lines, Inc. provides scheduled air transportation for passengers and cargo worldwide. Today a trader bought over 2,000 5.9.2014 37 Calls for $.74. This gives the buyer of the Calls, the right but not obligation to buy 200,000 shares of stock at $37 between now and next week and they paid a Cash Outlay of $150,000. With recent sell-offs in UAL and AAL,...
Delta Air Lines, Inc. provides scheduled air transportation for passengers and cargo worldwide. Its route network comprises various gateway airports in Amsterdam, Atlanta, Cincinnati, Detroit, Memphis. Yesterday we saw a trader bought 9,156 DAL June 34 Calls for $1.26, so I knew it was the time to get LONG DAL. Today when Delta rallied more than a $1.20, the...
Delta Air Lines has already finished its wave 3 after minor-ABCDE expanded correction
of wave 3-sub-4.
Then it looks like already starting wave 4 correction down (Fib. 38.2% usually) into
23.91 area.
Its Final upward wave 5 will reach at 42.52=23.91 + (wave 3 ) x Fib. 61.8%
Therefore short term view is SHORT, and a long-term view is still LONG.
Nikita FX (...
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...
