Delta Air Lines, Inc. (NYSE:DAL) has been one of the best performers in 2014. The stock is trading up 50% this year. Up until recently, Delta Air Lines, Inc. has shown no signs of slowing down. As of today, it appears this stock is ready to lose altitude and quickly. First, note the S&P 500, trading higher by over 11 points on the day. Next, look at where Delta Air Lines, Inc. is trading, $42.01 -0.16 (-0.38%). While this may not seem significant, keep in mind this is a big change in character from any other days this year. If the S&P 500 was up, Delta Air Lines, Inc. was up...until today. From a technical stand point, connect the recent highs and you will get a trend line that matches perfectly to the high yesterday. Also, calculate a max move off the 200 daily moving average, price has hit upside max target. Be ready to see some downside in the coming days, weeks.
Take the
seven day free trial to the Research Center. Get swing trade alerts with entry and exit points. Get swing trades that have returned over 180% profit in 2014. Join today and profit for life.
Gareth Soloway
Chief Market Strategist
www.InTheMoneyStocks.com
