Profits Flying with Delta Air Lines – July 20, 2010

Delta Air Lines, Inc. or DAL as listed in the New York Stock Exchange posted a $467 million profit for the second quarter of 2010. It made up for the $257 million loss it incurred a year ago. However, its stock price fell by 2.9% to $11.38 during yesterday’s trading session. So here we have another case of stocks which failed to ascend upon releasing the good news (kindly check here: 1, 2 for the recent cases I posted on). No wonder many people are keen on using technical analysis more than fundamentals. Personally, I think it’s better to use both. Anyway, Delta Air Lines’ merge with Northwest Air Lines dated almost 2 years back make them one of the world’s largest commercial carrier. Delta Air and its subsidiaries cater to 66 countries in all continents. They are also the largest fleet of Wi-Fi-equipped aircraft in the world.

Currently, the stock chart of Delta Air Lines is on a 16-month uptrend. The immediate resistance it could encounter is $12.40. Once the stock price passes above that, the next resistance could be the $14.48-15.00 area. If the DAL stocks fail to push higher, the immediate support could be the uptrend. Upon breaking below the uptrend could drop the stock value to the next support at $10.40. As long as the uptrend remains intact, being exhausted to push higher is less likely.

Sphere: Related Content