Delta Airlines (From)-Get report The earnings will be reported on Tuesday. In the upcoming event, stocks are mixed.
Airlines, cruise companies, casinos and other travel-oriented stocks were eliminated in March. Even if the stocks stopped falling, many people did not see much room for gains. As the market rebounded in April, they traded sideways.
However, American Airlines (AAL)-Get report Some positive news about bookings was released, which helped to bring the entire industry into a huge rally.
Although it fell to a new low in May, Delta’s share price reversed from a high of $1
But just like United Airlines (UAL)-Get report, Delta and others have experienced strong rebounds, and these stocks have also fallen into a pullback against morale.
Let’s look at the chart before earnings.
Trading Delta stocks
Delta Airlines may set the tone for its entire industry when reporting.
To be honest, it was nice to see the stock fall before it made a profit. Although this correction does not have to start a month ago, it helps lower expectations before it may produce undesirable results.
But the result is not important, but reaction Now it matters.
Since the stock price is close to the previous downtrend resistance line (blue line) and the back of the 50-day moving average, the bulls hope to see Delta Air Lines keep it at $25 after the earnings report. This level is just below last week’s low.
Closing the price below this threshold may cause Delta Air Lines to fall to a low of $20. From March to May, it gained several months of support, but the three-day drop caused it to fall to a new low.
On the bright side, the bulls want to see the stock price break through $30. This will make it higher than the 23.6% retracement of $28.02, as well as the 20-day, 50-day and 100-day moving averages.
In this case, it will bring the 38.2% retracement level closer to $34.50 and the June high of $37.24.
Delta stock has been a very unstable name lately, for good reason. Although many people consider it the best airline stock, it will continue to remain volatile. Observe the level after the report to see which direction gets the motivation.