Super common trading mistake on this chart of DAL.
Read any book on technical analysis and they will tell you the resistance level here is $61.25. And that might be true, but that’s not the level to trade.
The REAL number is $59.
Look a little deeper into the chart. Actually read the tape. What number is significant based on price action? It’s $59.
Each time the stock price gets to, or breaches this price it fails.
So what does that mean?
It means Institutions don’t have enough demand to keep the stock higher.
Want to be a “real trader?” Pay attention to stuff like this. It’s what separates those who trade and those who pay for a hobby.
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Delta Air Lines Earnings Due After American Warns: Investing Action Plan
Here is your Investing Action Plan for Wednesday: what you need to know as an investor. Delta Air Lines (DAL) reports first-quarter earnings, opening the floodgates for all the other Q1 earnings reports to come in the weeks ahead, as some airline stocks try to set up.
The Federal Reserve releases minutes for its meeting last month. The government and OPEC release weekly oil-supply data as well as data on consumer prices.
Oil prices firm back to near 5-month highs ahead of OPEC, U.S. inventory updates
Oil futures prices firmed early Wednesday, trending back near the five-month closing highs reached earlier this week, as investors awaited U.S. inventory data and a monthly OPEC report meant to show how much output the cartel and its allies cut in March.
Oil finished with a loss on Tuesday, a day after settling at five-month highs, pressured by expectations that U.S. crude supplies climbed for a third straight week […]