Traders Beware!

Fraudulent websites posing to have a connection with JFD

Please be aware of fraudulent websites
posing as JFD's affiliates and/or counterparties

More information
by Darius Anucauskas

A Very Turbulent Flight Up for Delta Airlines Stock

Overall, from the beginning of this year, the Delta Airlines stock (NYSE: DAL) continues to pick up altitude, trading above its medium-term upside support line drawn from the low of January 3rd. But from a short-term perspective, from the end of July, we see the stock correcting back down and it seems that the price may continue drifting towards the above-mentioned upside line for a quick test. As long as that line remains intact, we will stay somewhat positive over the near-term outlook.

As mentioned above, if the price slides a bit further down and drops below the 57.00 support zone, which is the low of August 5th, this may lead the stock to a test of the previously-discussed upside line. If that line continues to hold DAL from moving lower, a rebound might bring the price back above the 57.00 area, which could attract more buyers back into the game. We will then aim for the 58.05 obstacle, a break of which could send the stock to the 60.45 level, marked by the high of August 8th.

Taking a quick glance at our oscillators, the RSI and the MACD, we see that both are sending us slightly mixed signals. The RSI moved below 50 on August 1st and is currently sat there, while pointing slightly to the upside. The MACD is below zero now and sits below its trigger line, points a bit lower. In a way, these readings might support the idea discussed above, supporting a bit of weakness, before another possible rise.

Alternatively, if the aforementioned upside line breaks and the price falls below the 54.35 hurdle, marked near the low of June 6th, this may force existing investors to liquidate on some of their positions in the stock. DAL may then travel further south, targeting the 52.85 obstacle, a break of which could open the door to a possible move to the 51.30 zone. That zone is the lowest point of May.   

Delta Airlines daily


The content we produce does not constitute investment advice or investment recommendation (should not be considered as such) and does not in any way constitute an invitation to acquire any financial instrument or product. The Group of Companies of JFD, its affiliates, agents, directors, officers or employees are not liable for any damages that may be caused by individual comments or statements by JFD analysts and assumes no liability with respect to the completeness and correctness of the content presented. The investor is solely responsible for the risk of his investment decisions. Accordingly, you should seek, if you consider appropriate, relevant independent professional advice on the investment considered. The analyses and comments presented do not include any consideration of your personal investment objectives, financial circumstances or needs. The content has not been prepared in accordance with the legal requirements for financial analyses and must therefore be viewed by the reader as marketing information. JFD prohibits the duplication or publication without explicit approval.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 75% of retail investor accounts lose money when trading CFDs with the Company. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Please read the full Risk Disclosure.

Copyright 2019 JFD Group Ltd.