Lately DAL hasn't kept pace with the advance in the SPY, leaving me to wonder where all the table-pounding buyers have gone? I feel like a broken clock on DAL, constantly calling for a top in the chart, but once again the chart shows that something is wrong or that at the least there are sellers liquidating their positions as the price languishes relative to the...
Note how the last "key level" keeps getting tested - maybe it will trigger some stops and lead to a more cascading-type of decline.
I hope my artwork wasn't too inappropriate!
Tim
Friday, September 19, 2014 4:21PM EST - Quad-Witching Expiration Today!
The idea here isn't very difficult to understand. DAL has made a run up from $35.51 on August 8th, where we saw a bounce off the 150EMA, a personal favorite area to get long for me, especially looking at the weekly chart for this. Anyways, from the top down:
1) Bullish RSI Holding 60 Support
2) Established Uptrend - Long Term
3) Bounce off 150 EMA
4) Long $4.46...
The idea here isn't very difficult to understand. DAL has made a run up from $35.51 on August 8th, where we saw a bounce off the 150EMA, a personal favorite area to get long for me, especially looking at the weekly chart for this. Anyways, from the top down:
1) Bullish RSI Holding 60 Support
2) Established Uptrend - Long Term
3) Bounce off 150 EMA
4) Long $4.46...
Republishing older chart, with a few new annotations. Re-shorting DAL here at $38.54 - exactly where I covered in late June. Bumping up against the 50 SMA, which has been a significant support level since Nov 2012. Long-term momentum broken, with the RSI dipping below the 48 level in early July for the first time in more than a year and a half. Targeting $35.4,...
The weekly chart of Delta stands at value The volume during this decline is a warning signal, but we have to keep in mind Iraq and Oil price fluctuations.
The daily has a double bottom with a divergence, my favorite signal. Due to the big gap up, the risk reward isn't that great, so personally I'm not going to take this trade, but I thought I should publish it...
Notice how well DAL acts around the "key hidden levels" from earnings release. I highlighted in red circles where there were many key trade setups on a retracement to the green lines, which I call "key hidden levels".
What I see happening here is DAL is potentially failing to hold key support at 35.80 that has been tested twice already in the July selloff: ...
Putin, enough said, wont back down, will take Ukraine, planned all along, flights suspended over eastern Russia, what's next? Transports suffer either way until this whole thing settles down. Russia takes Ukraine, the world media yells NOT FAIR, US and Europe do nothing but paper tiger - throws spit balls his way, Russia restores order, the world goes back to...
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 :
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
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...
