Let's check out the charts of Delta to see if we should land and deplane or keep flying.
In this daily bar chart of DAL, below, we can see a mixed picture. Prices have been in an uptrend from early January but not without several corrections along the way.
Prices are currently above the rising 50-day moving average line but there have been several tests of this math-driven indicator. The 200-day moving average line has been rising since early April.
The On-Balance-Volume (OBV) line shows a rise from early January which is bullish and confirms the price gains.
The Moving Average Convergence Divergence (MACD) oscillator is narrowing above the zero line which could become a new buy signal if prices move higher.
In this weekly bar chart of DAL, below, we can see a weakening picture.
Prices are above the rising 40-week moving average line but pulling back.
The weekly OBV line is curling over and the MACD oscillator is narrowing towards a potential take profits sell signal.
In this Point and Figure chart of DAL, below, the chart shows a possible or potential upside price target of $75 but a trade at $63.50 is needed to refresh the uptrend. A decline to $56.92 is likely to weaken this chart.
Bottom line strategy: Like Cramer, I do not think DAL is the place to be in the current market. If you are long DAL I would use a close below $57 as a signal to change your flight plan.