Delta Air Lines Trading Analysis (02/09/2024)

The trend is down. The stock is trading in the range between 365 and 135 ЕМА. The upward wave structures are truncated. There is a bearish divergence on the Awesome Oscillator, and the Stochastic Oscillator signals an overbought condition.

Trading idea:                

• Sell when the formation of the descending wave structure begins, when the wave A breaches 41.86 (pivot 2 of the wave C of the ascending structure).
• Stop-loss at 42.60 away of the local maximum of the ascending structure.
• Price targets at 40.10 and 37.30.

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