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Delta Airlines Stock Chart Analysis

Shares of Delta Airlines Inc (DAL) are trading slightly lower today. The airlines continue to be hurt by lack of air travelers during the Covid-19 pandemic. Delta Airlines stock chart analysis shows a classic wedge pattern. The support trend line connecting the pivot lows has held so far but the resistance trend line has also held strong. The stock is stuck in a choppy up/down wave. This can be seen by the stock chart below. This means that investors watching for a trading setup should wait patiently for a break above or below the trendline. Should Delta Airlines break below the support trend line, a move lower to $24.00, then possibly below $20 could occur. If/when it price breaks the support trendline, swing traders could sh0rt for those downside targets. If/when Delta Airlines breaks the upside trend line, investors and swing traders could hop long for an easy move to $42.50. Delta has a solid balance sheet compared to many of its peers, however, this does not mean it will breakout. I have seen far too many investors ‘jump the gun’ because they ‘think’ a move is coming. The best policy and safest play is to wait and watch. The chart will tell you the direction when it breaks either the support trendline or the resistance trend line. The Delta Airlines stock chart analysis is clear here, now it is up to us as investors and swing traders to be ready to react.