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Uncovering Noteworthy Technical Analysis Findings for DELTA AIR LINES INC (NYSE:DAL).

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.

DAL Daily chart on 2024-04-23

Deciphering the Technical Picture of 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.

  • The long and short term trends are both positive. This is looking good!
  • When comparing the yearly performance of all stocks, we notice that DAL is one of the better performing stocks in the market, outperforming 91% of all stocks.
  • DAL is one of the better performing stocks in the Passenger Airlines industry, it outperforms 95% of 24 stocks in the same industry.
  • DAL is currently trading near its 52 week high, which is a good sign. The S&P500 Index is trading in the upper part of its 52 week range, but not near new highs, so DAL is leading the market.
  • In the last month DAL has a been trading in the 44.56 - 49.24 range, which is quite wide. It is currently trading near the high of this range.

Check the latest full technical report of DAL for a complete technical analysis.

How do we evaluate the setup for NYSE:DAL?

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.

How to trade NYSE:DAL?

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.

Keep in mind

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.

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DELTA AIR LINES INC

NYSE:DAL (5/20/2024, 7:04:00 PM)

After market: 53.11 +0.12 (+0.23%)

52.99

+0.29 (+0.55%)

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