By Mill Chart
Last update: Apr 23, 2024
Our stock screener has detected a potential breakout setup on DELTA AIR LINES INC (NYSE:DAL). This breakout pattern is observed when a stock consolidates following a strong upward movement. It's important to note that this pattern is based on technical analysis, and the actual breakout outcome is uncertain. However, it might be worth keeping an eye on NYSE:DAL.
Every day, ChartMill assigns a Technical Rating to each stock, providing a score ranging from 0 to 10. This rating is determined by evaluating various technical indicators and properties.
Taking everything into account, DAL scores 10 out of 10 in our technical rating. This is due to a consistent performance in both the short and longer term time frames. Also compared to the overall market, DAL is showing a nice and steady performance.
Check the latest full technical report of DAL for a complete technical analysis.
Next to the Technical Rating, the Setup Rating of a stock determines to which extend the stock is consolidating. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. For NYSE:DAL this score is currently 8:
DAL has an excellent technical rating and also presents a decent setup pattern. We see reduced volatility while prices have been consolidating in the most recent period. There is a resistance zone just above the current price starting at 49.03. Right above this resistance zone may be a good entry point.
A breakout could materialize when the stock breaks out to new highs above the current consolidation zone. One could wait for this to happen and buy when this happens. A stop loss could be placed below the consolidation zone.
Please note that this article should not be construed as trading advice. The information provided is solely based on automated technical analysis and serves to highlight technical observations. It is important to conduct your own analysis and make trading decisions based on your own judgment and responsibility.
Every day, new breakout setups can be found on ChartMill in our Breakout screener.
This article should in no way be interpreted as advice in any way. The article is based on the observed metrics at the time of writing, but you should always make your own analysis and trade or invest at your own responsibility.
DELTA AIR LINES INC
NYSE:DAL (4/29/2024, 7:04:00 PM)
After market: 50.37 -0.08 (-0.16%)50.45
+0.53 (+1.06%)
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Good technical signals and a possible breakout for DELTA AIR LINES INC.