$DAL
Added 2024-07-30 14:01:47 +0000 UTCI have been monitoring $DAL very closely in the background and continue to be impressed with how it has been holding on the 200 Day MA at $42.
I have assessed the chart and my one concern is the size of subwave 4, it is short compared to subwave 2 but it is likely a triangle, if this is the case then Wave 5 peaked at $53 and this pull back now is a small ABC correction.
It has also tested the 0.5 Fib and 200 Day MA which would make this a standard pull back too.
I have adjusted the Fib levels to reflect this and the 1.618 Fib aligns with our original Primary Wave 3 target, which is taken from Primary Wave 1 and Wave 2 in a green circle.
So, if $DAL can continue to hold above the 200 Day MA it can slowly start moving higher.
The Bull Case is still at $48, so no rush here.
Comments
We had this pull back as a subwave 4, that did invalidate.....so we have assessed this and we can see a smaller, a lot smaller subwave 4 (as shown) which can be valid as a subwave 4.
Gareth Neary
2024-07-30 15:00:57 +0000 UTCI'm not clear on this, did it not invalidate?
Jesse Gaffey
2024-07-30 14:57:45 +0000 UTC
