Delta has been in descending channel. The price is close to upper channel trend line. If the price breaks above $41, the pattern breakout is confirmed and the price could reach $50.
However, the price has failed to break above $44 prior 3 times, so it would be prudent to take profit around that area.
There is a risk that trend line rejection can happen and the price could revisit $35.
Target 1 - $ 41
Target 2 - $44
Target 3 - $50
Risk - Failed to break above $40 and retrace to $35.
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How to read my charts?
- Matching color trend lines shows the pattern. Sometimes a chart can have multiple patterns. Each pattern will have matching color trend lines.
- The yellow horizontal lines show support and resistance areas.
- Fib lines also show support and resistance areas.
- The dotted white lines show the price projection for breakout or breakdown target.
Disclaimer: Not investment advice.
However, the price has failed to break above $44 prior 3 times, so it would be prudent to take profit around that area.
There is a risk that trend line rejection can happen and the price could revisit $35.
Target 1 - $ 41
Target 2 - $44
Target 3 - $50
Risk - Failed to break above $40 and retrace to $35.
———————————————————
How to read my charts?
- Matching color trend lines shows the pattern. Sometimes a chart can have multiple patterns. Each pattern will have matching color trend lines.
- The yellow horizontal lines show support and resistance areas.
- Fib lines also show support and resistance areas.
- The dotted white lines show the price projection for breakout or breakdown target.
Disclaimer: Not investment advice.