Airlines are turning downward once again.
Delta Air Lines Inc. ($DAL) continues to trade lower, down -3.31% at $40.74 on a volume of 4,505,530 shares today. Last week we saw a brief rise in airline stocks that looked to be a bottom and a breakout. That breakout has now turned into a break below the lower bollinger band which is a very bearish move. There looks to be more downside in these stocks.
Delta Air Lines Inc. is below the 50 day moving average and below the 200 day moving average. These are bearish, bearish indicators respectively.
Delta Air Lines Inc. Delta Air Lines Inc provides scheduled air transportation for passengers and cargo throughout the United States and around the world. The Company’s business segments are airline and refinery.