I have identified a potential inverted head and shoulders pattern developing in Dal. Pattern is confirmed when price closes above the neckline. Target can easily hit 52, but a more conservative target would be just below the high in case of double top formations.
Why I like this trade:
1. Dal, along with the rest of airlines have reported strong earnings.
2. As of yesterday, Oil has put in a topping signal (for now)
3. Dal is within 1/3 of its' high of 51 making this patterns breakout even stronger.
Have a chart that you would like a second opinion on? Comment below and I'll take a look!
Why I like this trade:
1. Dal, along with the rest of airlines have reported strong earnings.
2. As of yesterday, Oil has put in a topping signal (for now)
3. Dal is within 1/3 of its' high of 51 making this patterns breakout even stronger.
Have a chart that you would like a second opinion on? Comment below and I'll take a look!