Wedge Pattern Break: Delta Airlines (DAL) May Pop It 72%

[inthemoneystocks]

Shares of Delta Airlines (DAL) are consolidating inside a wedge pattern on the daily chart. Should this wedge pattern break out to the upside, Delta Airlines has the potential to pop 72%. The airline industry just got a massive bailout and they will need more. In the near-term Delta Airlines is setup as best in the industry and any economic improvement could likely trigger this big upside move.

The key to swing trading Delta Airlines is to wait for the wedge pattern to break out. Once price gets above $25 (and stays there), look for the stock to surge dramatically higher. Within 6-12 months, a move to $43 is likely, an 72%. I would highly recommend staying away from Delta unless it breaks and holds above $25. There is just far too much technical chart risk of a move back below $20. The breakout will kick start momentum buyers and algos, but only once it breaches $25. See the chart setup here: https://inthemoneystocks.com/wedge-pattern-break-delta-airlines-dal-may-pop-it-72/

Gareth Soloway
InTheMoneyStocks
Chief Market Strategist

[drbubb]

United Reports $2.1BN Loss As Airlines Brace To Fire 100,000 Once Bailout Loans Expire

United Airlines confirmed the carnage hitting US airlines today when it reported a $2.1 billion loss for first quarter as the coronavirus pandemic drove travel demand down to the lowest level in decades.

[drbubb]

United Reports $2.1BN Loss As Airlines Brace To Fire 100,000 Once Bailout Loans Expire

United Airlines confirmed the carnage hitting US airlines today when it reported a $2.1 billion loss for first quarter as the coronavirus pandemic drove travel demand down to the lowest level in decades.

[drbubb]

Berkshire Sells Entire Stakes In U.S. Airlines: Buffett

By: orraz

Berkshire Hathaway Inc sold its entire stakes in the four largest U.S. airlines in April, Chairman Warren Buffett said Saturday at the company’s annual meeting, saying “the world has changed” for the aviation industry.