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This Trade Level Is Where Delta Air Lines Can Take Off

Published 02/09/2018, 12:07 AM
Updated 07/09/2023, 06:31 AM

As you all know, most of the leading airline stocks have been coming under pressure recently. The leading airline stock in the industry group is Delta Air Lines Inc (NYSE:DAL). This stock topped out on January 16, 2018 at $60.79 a share. Since that high in the stock the shares have rolled over sharply. Today, DAL stock is trading lower by $1.48 to $52.37 a share. Traders now understand that the major market indexes are in correction mode, so it is prudent to look lower for major trade levels. The $48.50 area is a level that really stands out to me. This area was where the stock bottomed in November 2017. Often, when stocks retrace back to a major support level they will usually be defended by the institutional money. I will be looking to buy DAL stock around the 48.50 area.

DAL Chart

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