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Delta

Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Delta Air Lines stock price recovered 12% approx from the recent swing low.</a> </li> 
 <li> <span>2</span> <a>DAL stock price took support near $30.00 and reversed upward.&nbsp;</a> </li> 
 <li> <span>3</span> <a>The 50 day EMA negatively intersected the 200 day EMA showcase downtrend.</a> </li> 
</ul> 
<p>DAL stock price took support near $30.00 and began to recover by forming higher highs. It showed a minor bounce of 12% approx from the lows and displayed signs of a bullish trend reversal.&nbsp;</p> 
<p>However, the confirmation of the bullish trend reversal will come when buyers succeed to break out of the $40.00 hurdle.&nbsp;</p> 
<p>Delta Air Lines stock price is trading below the 50 day and 200 day EMAs. Few weeks ago, the EMAs displayed a bearish crossover which triggered the negative sentiment and invited further decline.&nbsp;</p> 
<p>The chart pattern of the DAL stock price is highly bearish and the correction wiped the gains generated in 2023.&nbsp;</p> 
<p>During the downfall, Delta Air Lines stock tried multiple times to reverse and break the chain of lower lows, but sellers took the pull-back as a shorting opportunity and dragged the prices down.&nbsp;</p> 
<p>Delta Air Lines Inc. reported the Q3 earnings on October 12, 2023 which beat the EPS estimates by 3.90%. However, the stock price continued to fall. Recently, the downfall halted near $30.00 and short term buyers came forward to push the price higher.</p> 
<h2 class="wp-block-heading" id="strong-will-dal-stock-price-show-a-v-shape-recovery-strong"><strong>Will DAL Stock Price Show a V-shape Recovery?</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter">
  <img decoding="async" src="https://lh7-us.googleusercontent.com/wubcFFOF-inglDIIBWxg6KgFE8p3xl73AwY4i_670MT9imUF8jVMe23Kq7Gc_r3Kyp-lhJwxJcc7k8MU1E9UKi5r5o6J4vG18cv-tKswd_1_QX28Km1tGOXLgtaRYv950S6lGJDYiUUTQVzaRmA2jCY" alt="Delta Air Lines Stock: Is the Downfall Over in DAL Stock?">
  <figcaption class="wp-element-caption">
   Source: <a href="https://www.tradingview.com/x/9et3BO1V/">NYSE: DAL</a> daily chart by Tradingview
  </figcaption>
 </figure>
</div> 
<p>DAL stock price is inside the bears’ grip and sellers look more active as compared to buyers. The recent up-move in the stock price is temporary, so it will be difficult for the bulls to sustain at the higher levels.&nbsp;</p> 
<p>Till the <a href="https://www.thecoinrepublic.com/2023/09/15/dal-stock-price-retraced-toward-200-day-ema-will-it-rebound-now/">Delta Air Lines</a> stock price is below $40.00, the bears will remain active. So, the reliability of the short term spikes is questionable. The analysis suggests, DAL share price is losing momentum and it might face rejection from the EMA.&nbsp;</p> 
<h3 class="wp-block-heading" id="strong-delta-air-lines-stock-price-is-oversold-strong"><strong>Delta Air Lines Stock Price is Oversold</strong></h3>  
<div class="tradingview-widget-container">
  &nbsp;&nbsp;
 <div id="tradingview_0e4c5"></div> &nbsp;&nbsp;
 <div class="tradingview-widget-copyright">
  <a href="https://www.tradingview.com/" rel="noopener nofollow" target="_blank"><span class="blue-text">Track all markets on TradingView</span></a>
 </div> &nbsp;&nbsp;
 <script type="text/javascript" src="https://s3.tradingview.com/tv.js"></script> &nbsp;&nbsp;
 <script type="text/javascript">

  new TradingView.widget(

  {

  "width": "950",

  "height": "500",

  "symbol": "NYSE:DAL",

  "interval": "D",

  "timezone": "Etc/UTC",

  "theme": "light",

  "style": "1",

  "locale": "en",

  "enable_publishing": true,

  "allow_symbol_change": true,

  "studies": [

    "STD;RSI",

    "STD;Supertrend"

  ],

  "container_id": "tradingview_0e4c5"

}

  );

  </script> 
</div>  
<p>Delta Air Lines stock price is highly oversold, which might explain the temporary spike. Moreover, the broader market indices also showed a minor recovery in the last few weeks. So, it indirectly affected the <a href="https://www.thecoinrepublic.com/2023/09/15/dal-stock-price-retraced-toward-200-day-ema-will-it-rebound-now/">DAL shares</a>.&nbsp;</p> 
<p>The MACD curve slopes upwards and histogram bar is on the rise highlighting mild bullishness. The supertrend suggests that the trend is reversing upwards and that the stock may trade with mild bullish bias for a short term period.&nbsp;</p> 
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4> 
<p>DAL stock price is recovering by taking support near to the $30.00. The buyers are trying to push the price above the 50 day EMA. However, the recent up move in Delta Air Lines stock looks temporary and may face rejection from higher levels. Therefore, investors should avoid buying until the $40.00 level is taken out.&nbsp;</p> 
<h5 class="wp-block-heading"><strong>Technical levels</strong></h5> 
<ul> 
 <li>Resistance levels: $37.26 and $40.17</li> 
 <li>Support levels: $30.62 and $27.50</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.</p>

Delta Air Lines Stock: Is the Downfall Over in DAL Stock?

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Thecoinrepublic.com

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