$DAL
Added 2024-07-11 15:41:58 +0000 UTC$DAL reported today and although on paper it was a negative miss, it just slightly missed but the Q3 guidance was the damaging part, which was aimed lower. In the PM we saw a -10% decline which has now recovered to -5.5% now.
The 200 Day MA has also offered support here and has so far done its job....my concern here now will be the infringement upon the Wave 1 top at $42, meaning according to the rules of EWT, Wave 4 can not infringe upon Wave 2 at any stage, this has happened now.....those who will remember when this happened on the $LULU chart, we exited our position and the price dropped by a further +20% next.
So I will be looking to see how this bounce behaves and exiting my position, the price can run back up to the yellow trend line again at $48 but I will be looking for signs of a rejection to sell.
