I have identified a bullish flag pattern on DAL weekly chart. Flag patterns are a reliable trading pattern which gives you clear entry and selling signals. Flags are a quick to meet targets usually completing in less then 3 weeks time. DAL had a straight $20 run up from its' lows (creating the pole) and then proceeded to consolidate for several weeks (creating the staff). This weeks close above the staff indicates a breakout thus signaling a buying opportunity. you can reasonably take an entry here at 47.07 and place a stop at 45.07. Target for this trade would be 53.30. giving you better then a 1:3 risk reward trade. The sound fundamentals with DAL and the continuing drop in oil prices further validates this breakout.
What chart should I analyze next? Comment Below!
What chart should I analyze next? Comment Below!
