Swing Trade Idea (DAL) – July 7, 2021
Our bullish trade for Wednesday, July 7th is Delta Airlines (DAL). DAL is part of the Industrial Sector (XLI). XLI has experienced a 2.9% decline in the last month as price pulled back slightly to an area of support.
DAL is relatively rangebound and has pulled back to an area of support to provide a good risk/reward long entry. With a technical score of 4 (out of 10), DAL is a weak stock that will likely move higher.
As a close, if DAL were to trade below $42 for multiple days, this would invalidate our analysis and we would focus cutting losses on the trade. We also would consider cutting losses on this options trade if the value of the vertical spread moves above $2.24.
