Don't Ignore This Chart!

Delta Leads as SCTRs Pop for Four Airline Stocks

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Stocks were mostly lower in afternoon trading, but a few airlines bucked the trend with gains and big moves in their StockCharts Technical Rank (SCTR). The table below shows the SCTRs for large-caps and the table is sorted by "change". Just click the column heading to sort. Notice that four of the top ten stocks are from the airline industry: Southwest Airlines (LUV), Delta Airlines (DAL), United Continental (UAL) and American Airlines (AAL). Delta is the strongest of the group overall because it has the highest SCTR (~70). On the DAL chart....


...the stock formed a double bottom in June-July and broke out with a surge above 44. There was a throwback in late July, but broken resistance turned into support and held. The stock is getting another bounce off support the last two days and the SCTR moved back above 60. Overall, the chart looks bullish as long as 43 holds. 

Arthur Hill
About the author: , 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. Learn More
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