Swing Trade Idea (DAL) – June 02, 2022
Our bearish trade for Thursday, June 2nd is Delta Air Lines Inc. (DAL). DAL is part of the Industrial sector, which DAL has underperformed by 6.06% over the last month.
DAL recently broke below a key support level of $41 as strength is decreasing, which provides a good risk/reward bearish entry. Both 1M and 6M trends are bearish.
As a close, if DAL were to trade above $40 for multiple days, this would invalidate our analysis and we would consider cutting losses on the trade. We also consider cutting losses on this options trade if the value of the vertical spread moves above $2.90.
