Delta Air Lines Stock Forecast

Evaluation of Delta Air Lines stock downgraded after the last trading session.
(Updated on Apr 24, 2024)

DAL Signals & Forecast

The Delta Air Lines stock holds a sell signal from the short-term Moving Average; at the same time, however, there is a buy signal from the long-term average. Since the short-term average is above the long-term average there is a general buy signal in the stock giving a positive forecast for the stock. On further gains, the stock will meet resistance from the short-term Moving Average at approximately $48.01. On a fall, the stock will find some support from the long-term average at approximately $45.85. A break-up through the short-term average will send a buy signal, whereas a breakdown through the long-term average will send a sell signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Tuesday, April 23, 2024, and so far it has fallen -2.62%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.

Support, Risk & Stop-loss for Delta Air Lines stock

Delta Air Lines finds support from accumulated volume at $46.86 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $1.53 (3.20%) between high and low. For the last week, the stock has had daily average volatility of 2.91%.

Our recommended stop-loss: $45.65 (-4.78%) (This stock has low daily movements and this gives low risk. There is a sell signal from a pivot top found 1 day ago.)

Trading Expectations (DAL) For The Upcoming Trading Day Of Thursday 25th

For the upcoming trading day on Thursday, 25th we expect Delta Air Lines to open at $48.32, and during the day (based on 14 day Average True Range), to move between $46.55 and $49.33, which gives a possible trading interval of +/-$1.39 (+/-2.90%) up or down from last closing price. If Delta Air Lines takes out the full calculated possible swing range there will be an estimated 5.80% move between the lowest and the highest trading price during the day.

Since the stock is closer to the resistance from accumulated volume at $48.22 (0.58%) than the support at $46.86 (2.25%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.

Is Delta Air Lines stock A Buy?

Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Delta Air Lines stock to perform well in the short-term. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.

Current score: 1.762 Buy Candidate Downgraded

Predicted Opening Price for Delta Air Lines of Thursday, April 25, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.