Delta Airlines (DAL) appears to be ending its two month correction with a surge back above the 50-day moving average. Notice how the stock successfully tested the 35 level twice and did not even test the rising 200-day. The recent move above the June trend line and 50-day moving average is medium-term and signals a continuation of the long-term uptrend. The indicator window shows momentum improving as MACD turns positive again.
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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