$DAL
Added 2023-09-15 18:58:33 +0000 UTCAt an important junction now, just holding above the 200 Day MA which is conveniently exactly at the top of the wedge trend line, we can also see that the blue line is just slightly above which was the previous highs at the start of the year....when the price went above the blue line in June, the share price moved very quickly.
I am seeing this as a leading diagonal Wave 1 here but it is important that the price holds above the 200 Day MA or the structure breaks down....there has been weakness in airline stocks lately, due to labour and fuel costs....but these are standard concerns that airlines deal with every year, I expect airlines to continue their growth and recovery.
So holding above $38.50 is what we want to see here now.
Comments
Sorry to labour the point. May be it is my thick brain. You seem to have labeled the larger wave having completed wave 2 and the 1-5 that is developing right now is after that wave 2 which is making me think this is wave 1 of larger wave 3
Suhas Chatekar
2023-09-15 21:11:27 +0000 UTCLeading diagonal allows this
Gareth Neary
2023-09-15 19:25:29 +0000 UTCWith wave 4 in wave 1 territory, isn't the count invalidated?
Frank
2023-09-15 19:22:38 +0000 UTCSo the waves 1 to wave 5 here would be part of a larger Wave 1 count
Gareth Neary
2023-09-15 19:10:14 +0000 UTCCaptain, can you post a long-term chart of $DAL, please? While I can see why you think this could be a diagonal, I am struggling to see the diagonal of which wave 1? From the chart you have posted, we seem to be in wave 3 of higher degree (can see a wave 2 of higher degree on the bottom left)
Suhas Chatekar
2023-09-15 19:05:56 +0000 UTC
