1,414 for DAL airlines securities- My point of view
I'm a big fan of technical analysis. And yes, Elliot's wave theory is my favorite.
Every time I do (try at least) an analysis based on price behavior on a chart, the first thing I notice is corrections.
To my surprise, when analyzing DAL stocks, I noticed a clear ABC correction formation, which, when using the fibonacci extension, all the time coincided with the 1.414 point. At this mark, most of the corrections for these securities end (Take a look at the attached chart below)
For me, this is still just a mental satisfaction when my ideas are realized in the behavior of prices in the past. So far, the big question for me is the last (very strong) downward movement of stocks in the period of 2020. I will leave a note here for myself to return to the analysis of the paper in the future.
But what can I explain based on the marks I placed on the chart right now -
We are at the end (2) of a higher order wave. (1) the wave has been going on since 2009. This means that most likely these stocks look great for a long-term portfolio.
The current price 44 is the lowest prices for the period 2017, 2018 and 2019. That is, more than 3 years ago, buying these shares would be considered a good entry. Fundamentally, the company still has to make up for lost profits, but nevertheless, the stock can already be considered undervalued by the market.
I tried to determine for myself a price range in which there would be no doubt for me about my long position (strong buy) - these are of course the recent lows of $ 20. But even at a price of 30-33, the shares are worthy of being included in my portfolio. Until then, the papers remain on my watch list.
PS. I would be grateful for help in interpreting the last part, if you have any thoughts - drop it in the comments. All good luck)
Every time I do (try at least) an analysis based on price behavior on a chart, the first thing I notice is corrections.
To my surprise, when analyzing DAL stocks, I noticed a clear ABC correction formation, which, when using the fibonacci extension, all the time coincided with the 1.414 point. At this mark, most of the corrections for these securities end (Take a look at the attached chart below)
For me, this is still just a mental satisfaction when my ideas are realized in the behavior of prices in the past. So far, the big question for me is the last (very strong) downward movement of stocks in the period of 2020. I will leave a note here for myself to return to the analysis of the paper in the future.
But what can I explain based on the marks I placed on the chart right now -
We are at the end (2) of a higher order wave. (1) the wave has been going on since 2009. This means that most likely these stocks look great for a long-term portfolio.
The current price 44 is the lowest prices for the period 2017, 2018 and 2019. That is, more than 3 years ago, buying these shares would be considered a good entry. Fundamentally, the company still has to make up for lost profits, but nevertheless, the stock can already be considered undervalued by the market.
I tried to determine for myself a price range in which there would be no doubt for me about my long position (strong buy) - these are of course the recent lows of $ 20. But even at a price of 30-33, the shares are worthy of being included in my portfolio. Until then, the papers remain on my watch list.
PS. I would be grateful for help in interpreting the last part, if you have any thoughts - drop it in the comments. All good luck)
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