I have identified a potential inverted head and shoulders pattern developing in Dal. Pattern is confirmed when price closes above the neckline. Target can easily hit 52, but a more conservative target would be just below the high in case of double top formations.
Why I like this trade: 1. Dal, along with the rest of airlines have reported strong earnings. 2. As of yesterday, Oil has put in a topping signal (for now) 3. Dal is within 1/3 of its' high of 51 making this patterns breakout even stronger.
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