05Mar11:50 amEST

Delta Skidding Off the Topping Pattern

With news of a Delta Airlines flight skidding off the runway at LaGuardia Airport, closing it in the snow, let us take a look at the DAL chart. 

And when we do, we have a solid short setup now watch, threatening to skid off the topping pattern highlighted on the daily chart, below.

I view a move under $44.30 as being a viable initial short trigger, pressing for a major breakdown after a multi-year surge.

Delta has turned itself around in recent years. But I suspect much of the good news is priced in for now, and a bit of a de-icing period may be necessary. 

Back to Switch-Hitting; Ches... Pressing for Lethargic Energ...

 
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