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...