DAL Trade on Apr 2, 2019 10:15 from MarcoG: Tradervue User Stock Trades.

Consolidation Squeeze Play above pm high on Fresh News (Positive Outlook Update)!!

Requirements:

RVOL: Possibly >1.5
pmVOL: Possibly >50 K
avg Vol: > 1M
Vol @ Day : > 1 M
Gap: If possible but not strictly needed
Long Term Chart : Possible Pocket, trend already defined and strength.
Float: > 20 M
Short Float: Possibly >40%
Institutional Ownership : Possibly > 100%
History of Gap Follower: Neutral
History of former runner: Possibly YES
Major ETF movement and strength: Possibly Trending with strength

Overall Picture

Signing a contract renewal with American Express through 2029, leveraging shared strengths to deliver best-in-class value to customers and doubling the expected benefits to Delta to nearly $7 billion annually by 2023, up from $3.4 billion in 2018
Completing $1.3 billion in share repurchases in the March quarter by opportunistically buying back 26 million shares, reaffirming Delta's commitment to consistent shareholder returns
Celebrating the one-year approval of the airline's joint venture with Korean Air, featuring award winning products, including Delta One Suites and Delta Premium Select available on our new aircraft, including the Airbus A350, and expanding to the Boeing 777
Participating in the 16th Delta Global Build with Habitat for Humanity and partnering with employees from GOL to construct six new homes for local families in Brazil, bringing the total to 270 built or rehabilitated homes in 13 different countries by Delta since 1995

Company Description

Sector: Industrial
Industry: Airlines

Delta Air Lines, Inc. provides scheduled air transportation for passengers and cargo in the United States and internationally. The company operates through two segments, Airline and Refinery.

Trade Scenario

DAL traded gaping up 4% in pm session. This due to overall monthly/year review already pushing up the stock price through the entire past trading session. A possible continuation above pm high would trigger an eventual entry

Trade Variables

Symbol : DAL
Gap : 4%
RVOL : 2%
pmVOL : >50 K
avg Vol: 7.5 M
Vol @ Day : 15 M
Float: 575 M
Short Float: 3.3%
Institutional Ownership : 0%
Insiders: 50%
ATR : 1.25
pmPATTERN : Bull-flag and consolidation at the base of the pennant.
Catalyst : Fresh News

Technical Levels

Daily

Support: 55 54.35 54 52.32
Resistance: 56 57 58 59
Inflection: 52.28

Big view

Support: 53.10(200SMA) 51.75(SMA100)
Resistance: 62 63.44(ATH)
Inflection: 62

Trade Plan

A move above pm high would support a consolidated move. Once there a consolidation above such level could imply a further move!

Set-up : Consolidation Squeeze Play
Side : Long
Size : 50
Entry : 54.94
Takes : 55.44 55.79 55.49 55.77
Exit : 54.60

Recap

Comments

I have today started raising my size. I have traded the up-trend continuation setup. Once achieved 2 targets I didn't want to give back achieved profit thus I have closed more parts of the position once back at target 1 but with the purpose of adding back in case the price would have then kept going higher. That's why I have added at 55.63 other 30 shares. Once again at target 2 I have started to lock back profit. So when the price touched target 2 I have each time closed a quarter of my position. I still need practice in controlling a profitable trade but I am at least happy to respect setups and takers. If I would have done differently today I would have locked actually half of my profit. If traders aim for a minimum of 2:1 pnl today I have done a good job!!!