04.08.2017
Delta Airlines (DAL.US)
Graphics: D1
Our expectations: The price is in ascending trend after correction to levels of horizontal and diagonal resistance. We expect the end of the corrective movement and preservation of the long-term upward trend.
Alternative Scenarios: If the price goes below support levels, the positive scenario will break and more likely to see a decrease in the asset's cost.
Comment: Price in long-term uptrend and after adjustment. The price is on a horizontal, diagonal and dynamic level of support, coinciding with Fibonacci 50% correction of the last ascending wave - a very strong and key level. 50SMA is located above 200SMA, and the price tested 200SMA. Demarker turned into an over-sales zone and signaled a reversal of short-term downward movement. Sequential starts counting upward - positive for the price.
Price Action: Swallowing bar and two teats down to levels of support.
SL: 47.54
Jr Trader Petar Milanov
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