Delta Airlines Inc has seen a new “Go” emerge after a correction that pushed the stock over 17% off its highs.
First we saw bullish divergence as the oscillator made a higher low, in contrast to the lower low made in price. Then, the GoNoGo Oscillator broke above zero and after retracing has found support. This shows that momentum is in the direction of this new “Go” trend. We may see resistance as price approaches the upward sloping trend line that was support in the prior “Go” move. But the signs suggest it will take a run at it.
