Delta Airlines, Inc. DAL
To start things off this morning, we’re immediately drawn to the most recognizable name on the premarket earnings calendar for the day. Delta has been beaten back over the past few weeks, to the point of approaching heavily oversold territory, especially as the PPS fell below the 50DMA for the first time since the second week of February. When that did occur, the stock launched into a month-long bullish pattern. All of this is plainly evident on the chart snapshot below.
With this morning’s beat on earnings as a catalyst, we’ll look for a similar pattern to emerge this time around, and begin tracking the DAL 04/13 51.50-53 Calls.
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