Trading Idea - Delta Broke Resistance, What to Expect?

Published on Thursday, 26 January 2012 06:36 Written by Christian Paolinetti

New York, January 26th (TradersHuddle.com) - Shares of Delta Air Lines, Inc. (NYSE:DAL) closed the trading session at $9.96 just above calculated resistance at $9.56 effectively breaking out, grabbing the attention of momentum traders, which could eventually push the stock to different trading range

Delta Air Lines, Inc. (NYSE:DAL) provides scheduled air transportation for passengers, freight, and mail over a network of routes throughout the United States and internationally. The company has major hubs in Atlanta, Cincinnatti, Detroit, Salt Lake City, New Jork, Tokyo and Amsterdam.

Delta's stock was trading in a well defined range with support at $7.83 and resistance at $9.56, given that this range was broken traders will be closely monitoring the stock