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TOPIC: Airline Stocks Losing Altitude: Potential Short

Airline Stocks Losing Altitude: Potential Short 3 years 10 months ago #9848

  • inthemoneystocks
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Delta Air Lines, Inc. (NYSE:DAL) has been one of the best performers in 2014. The stock is trading up 50% this year. Up until recently, Delta Air Lines, Inc. has shown no signs of slowing down. As of today, it appears this stock is ready to lose altitude and quickly. First, note the S&P 500, trading higher by over 11 points on the day. Next, look at where Delta Air Lines, Inc. is trading, $42.01 -0.16 (-0.38%). While this may not seem significant, keep in mind this is a big change in character from any other days this year. If the S&P 500 was up, Delta Air Lines, Inc. was up...until today. From a technical stand point, connect the recent highs and you will get a trend line that matches perfectly to the high yesterday. Also, calculate a max move off the 200 daily moving average, price has hit upside max target. Be ready to see some downside in the coming days, weeks.

Gareth Soloway

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