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  • Swing Trade Idea (DAL) – August 24, 2023

    Aug 24, 2023 Swing Options Tips Comments Off on Swing Trade Idea (DAL) – August 24, 2023

    Our bullish trade for Thursday, August 24th is Delta Air Lines, Inc. (DAL). DAL is part of the Industrial Sector, which has performed at 0.01% over the last week, with DAL performing at -1.1% over the same period.

    DAL bounced off a key area of support at around $40, and with Relative Strength increasing, we expect to see further upside. With a Relative Strength of 8 (out of 10) we believe that DAL has further upside potential. The Industrial Sector also found support and is trading higher.

    As a close, if DAL were to trade below $40 for multiple days, this would invalidate our analysis and we will consider cutting losses on the trade. We will also consider cutting losses on this options trade if the value of the vertical spread moves above $2.32.

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