Trade Idea for Delta Air Lines Inc. (NYSE)

Delta Air Lines Inc. (NYSE)

#DAL

    The trend is bullish. The stock is trading within the range of the 365 and 135 EMAs. A bearish truncated wave structure is in place. The Awesome Oscillator shows bullish divergence, while the Stochastic Oscillator indicates oversold conditions.

Trading Idea:                

Buy on the formation of a bullish wave structure, where wave A breaks the descending channel of the bearish truncated structure.

Stop Loss: 65.64 (below the local low of the bearish truncated structure)

Target levels: 67.90; 70.80.