We aren't quite there yet, but DAL just tapped nearly to the penny a convergence of decending macro trend line resistance and the long established ~41.72 pivot.
This will take some news catalyst and volume to break out, but keep this name on watch. A clear break and hold of this level will likely trigger a nice swing trade opportunity. We have a clear decline in covid infections as well as US just reopening the doors to the UK (and some others) tourism. We have plenty of reasons for a breakout, but need some alignment with overall market sentiment.
I am super cautious buying breakouts in this market. The play for me has been accumulating the lower channel resistance over the last month(s).
Keep an eye on this one. It has room to run provided some stars align.
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