Bullish on Delta Airlines Inc.

Delta Airlines DAL-N rallied from $17.51 in 2020 to $52.28 in 2021 (A-B) above the rising 40-week Moving Average (40wMA) and then settled in a trading range mostly between $29 and $49 for about three years (dashed lines). The stock had a sharp rise above the top of the range earlier this year and became overbought (C). Delta Airlines pulled back this summer dipping briefly below the average (D) and then resumed the uptrend to a higher high confirming the breakout and the start of a new…