Send me real-time posts from this site at my email

Delta Air Lines (DAL) and United Airlines (UAL) - Awaiting Pullback After Breakout

Recently, we saw Delta Air Lines $DAL and United Airlines $UAL break out of their respective consolidation ranges. After the breaks, we are now them pull back.

DAL Daily Chart

(click to enlarge)

- After the breakout above $61, DAL tagged $63 and is now pulling back.
- I think the $60-$61 area could become support, or perhaps the previous resistance pivot at $59.
- But even a deeper pullback could be within the bullish scenario.
- For example, if price pulls back to the $54-$55 area, support here can still maintain the bullish outlook.
I have dry powder at $59.50 and $56.

United Airlines 

(click to enlarge)

- As with DAL, UAL was also in a bullish breakout above a range resistance. 
- After breaking above the $90-$91 resistance, UAL almost tagged $96 before pullback back.
- I think there will be support around $90. But as long as price holds above $85, I think UAL will be bulish. 
I have dry powder ready at $91 and $86.

Welcome!!! Is it your First time here?

What are you looking for? Select your points of interest to improve your first-time experience:

Apply & Continue