The Long Investor

$DAL

Added 2024-07-10 11:22:29 +0000 UTC

Report their earnings before the market opens tomorrow so I have been looking at its chart one more time from a non EWT perspective, to see if I have missed anything.....We can see here that $DAL is retesting a wedge support line that is cutting through the 0.38 Fib and 0.5 Fib now, as we lead into earnings tomorrow.

On both charts, the set up is there to move higher, typically after earnings, $DAL moves higher EXCEPT for July's earnings last year, when then price pulled back aggressively from $49 to $30 and for those who were not in the group back then, we sold right before earnings because the run up to earnings was too strong and then reentered at $33, making $DAL one of our most profitable positions for the last 16 months.

$DAL has not run up to this earnings report, in fact it has pulled back, in line with our Wave 4, investors are more cautious this time......so if the report is clean and positive, there is a climb next.....any issues from the report and a test of the 200 Day MA is likely next at $42.