Delta Air Lines Stock Forecast
Delta Air Lines stock price up 1.18% on Thursday
(Updated on Mar 28, 2024)
The Delta Air Lines stock price gained 1.18% on the last trading day (Thursday, 28th Mar 2024), rising from $47.31 to $47.87. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.70% from a day low at $47.25 to a day high of $48.06. The price has risen in 8 of the last 10 days and is up by 11.17% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 3 million more shares were traded than the day before. In total, 13 million shares were bought and sold for approximately $638.56 million.
The stock lies in the upper part of a wide and strong rising trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break-up at the top trend line at $48.22 will firstly indicate a stronger rate of rising. Given the current short-term trend, the stock is expected to rise 15.69% during the next 3 months and, with a 90% probability hold a price between $48.61 and $55.78 at the end of this 3-month period.
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DAL Signals & Forecast
Mostly positive signals in the chart today. The Delta Air Lines stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $46.21 and $42.73. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Monday, January 22, 2024, and so far it has risen 29.45%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Delta Air Lines stock
On the downside, the stock finds support just below today's level from accumulated volume at $40.18 and $38.47. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Delta Air Lines finds support just below today's level at $40.18. If this is broken, then the next support from accumulated volume will be at $38.47 and $37.47.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.81 between high and low, or 1.70%. For the last week, the stock has had daily average volatility of 1.97%.
The Delta Air Lines stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stocks may go long and hard while being overbought and the RSI is still moving upwards. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely, and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: $46.27 (-3.34%) (This stock has medium daily movements and this gives medium risk. The RSI14 is 83 and this increases the risk substantially. There is a buy signal from a pivot bottom found 47 days ago.)
Trading Expectations (DAL) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Delta Air Lines to open at $47.73, and during the day (based on 14 day Average True Range), to move between $46.88 and $48.86, which gives a possible trading interval of +/-$0.99 (+/-2.07%) up or down from last closing price. If Delta Air Lines takes out the full calculated possible swing range there will be an estimated 4.14% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $40.18, some $7.69 (16.06%) from the current price of $47.87, our system finds the risk reward attractive.
Is Delta Air Lines stock A Buy?
Delta Air Lines holds several positive signals and is within a strong rising trend. As the old saying says, "Let the trend be your friend.'". We therefore consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Current score: 7.378 Strong Buy Candidate Unchanged
Predicted Opening Price for Delta Air Lines of Monday, April 1, 2024
Fair opening price April 1, 2024 | Current price |
---|---|
$47.73 ( 0.303%) | $47.87 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for DAL
Fibonacci Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 48.53 | 1.38 % | |
R2 | 48.22 | 0.736 % | ||
R1 | 48.03 | 0.339 % | ||
Current price: | 47.87 | |||
Support | S1 | 47.42 | -0.95 % | |
S2 | 47.23 | -1.34 % | ||
S3 | 46.92 | -1.98 % |
Accumulated Volume Support & Resistance Levels
Level | Price | |||
---|---|---|---|---|
Resistance | R3 | 0 | . | |
R2 | 0 | . | ||
R1 | 0 | . | ||
Current price | 47.87 | |||
Support | S1 | 40.18 | -16.06% | |
S2 | 38.47 | -19.64% | ||
S3 | 37.47 | -21.73% |
DAL Dividend Payout History
# | Ex-Date | Pay Date | Amount | Yield | |
---|---|---|---|---|---|
1 | Feb 08, 2024 | Feb 23, 2024 | Mar 18, 2024 | $0.100 | 0.230% |
2 | Sep 28, 2023 | Oct 12, 2023 | Nov 02, 2023 | $0.100 | 0.312% |
3 | Sep 28, 2023 | Oct 11, 2023 | Nov 02, 2023 | $0.100 | 0.312% |
4 | Jun 15, 2023 | Jul 14, 2023 | Aug 07, 2023 | $0.100 | 0.221% |
5 | Feb 06, 2020 | Feb 19, 2020 | Mar 12, 2020 | $0.403 | 1.20% |
FAQ
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