Delta Air Lines Inc. |
Looking at the longer term charts this particular stock has been trapped in a consolidatory motion for some time which has frustrated both sides of the trade.
The bollinger bands indicates that the price remains in a tight range however it must also be noted that the only time price was able to finish outside either the top or bottom band, the signal produced a false signal.
This happened during June 2016 and although the break occurred, $35 provided strong support for buyers. Since then we've seen a resurgence of price back up towards the upper band.
The RSI has been trending to the downside since 2014 but there does seem to be a challenge being undertaken and should this downtrend be broken, an aggressive buying frenzy could ensue.
No comments :
Post a Comment