DAL is approaching its support at 50.46 (100% Fibonacci extension, 61.8% & 38.2% Fibonacci retracement, horizontal swing low support) where it could potentially rise to its resistance at 54.70 (38.2% Fibonacci retracement, horizontal pullback resistance).
Stochastic (89, 5, 3) is approaching support at 2.9% where a corresponding bounce could occur.
BREAKING DOWN 'Wolfe Wave'
If identified correctly, Wolfe waves can be used to accurately predict the scope (equilibrium price) of the underlying security. To identify Wolfe waves, they must have the following characteristics:
Waves 3-4 must stay within the channel created by 1-2
Wave 1-2 equals waves 3-4 (shows symmetry)
Wave 4 is within the channel created by ...
Would be selling stock and/or doing Bearish Put Credit Spreads, until around $45 area. DAL has earnings report scheduled for 4/12/2018 (FYI).
Daily Bullish and/or Bearish Head & Shoulder patterns are powerful and should be respected. Good luck and Good trading.
Buffett's got this. What else ya need to know?
Technically speaking, I'm forecasting several mean reversions. That's what I'm seeing. Also, trying buying low, might increase your chances of making a dime.
DELTA GOING DOWN WITH SIGNIFICANT VOLUME???
I think that Delta Airlines is going down potentially past the 52.00 price level. Prices could of course have strong reversal near the V, are you prepared to ''BUY THE DIP'' One way to play this is to take half your profits off the trade as prices are approaching the 54.00 price level. If however you believe prices to ...