Trade Idea for Delta Air Lines Inc. (NYSE)

Delta Air Lines Inc. (NYSE)

#DAL

The trend is downward. The stock is trading within the range of the 365 and 135 EMAs. The upward five-wave structure has completed with a breakout below the pivot of wave 2 in wave 5. The Awesome Oscillator indicates bearish divergence.

Trading idea:                

Sell on a breakout below 62.63.

Stop Loss – 65.80.

Target levels – 59.73; 55.50.