Delta Air Lines Inc. (NYSE: DAL) operates in air transportation for passengers and cargo spanning over the United States and across the globe. The whole airline industry faced difficult days last week. Airlines canceled more than 1300 flights in the States as an impregnable winter storm hit the western and central states.
About 1327 flights were canceled and more than 2000 flights got delayed, including which, Delta Airlines canceled 246 flights and claimed to be monitoring the storm closely after the alert. The Federal Aviation Administration (FAA) took to Twitter to issue a warning regarding the possibility of the States witnessing severe weather, causing flight delays and cancellations.
It’s been almost a year to the day since Russia invaded Ukraine. To cover the aftermath of the war and to treat the harm caused, western companies are being encouraged to be a part of the country’s recovery.
Andy Hunder, president of the Kyiv-based American Chamber of Commerce in Ukraine, announced that “Ukraine is open for business”. Per his opinion, western companies should be looking to be a part of the biggest recovery of the European nation since world war 2.
600-plus members of the American Chamber of Commerce in Ukraine will possibly include Delta Air Line Inc. The same was hinted at or rather confirmed by a tweet made by Delta’s official account. This step can possibly influence the Delta stock prices in the long run.
Furthermore, Kyndryl Holdings revealed entering into a 5-year extended agreement with Delta Air Lines. The partnership aims to strengthen the airline’s mission-critical operational systems, including crew rostering and scheduling and customer relation programs.
Delta stock prices are under slight bearish influence. The decline is attributed to the snow storm, hampering the business, but the impact is deemed to be reduced due to the European investment proposal. The DAL prices are currently trying to test the support near $36.50, and if successful can establish a high run reaching near $46.05, breaking all resistances.
The volume shows declining interaction as the prices take a down trend. The RSI falls from buyer dominant to seller controlled region reflecting the impact of falling prices. The MACD formed a negative cross and recorded ascending seller bars.
Conclusion
The indicators signal bearish signs for the Delta stock price action, which are expected to turn bullish once the investment is made in European recovery. The market is slightly bearish and is testing support near $36.50.
Technical levels
Support levels: $36.50 and $32.00
Resistance levels: $40.30 and $42.10
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2023/02/27/delta-stock-prices-covered-in-snow-winter-storm-surrounds-delta/