Delta Air Lines Stock Shows Bearish Trend Ahead Of Q2 Earnings Report: What Are Analysts Saying?

Delta Air Lines Inc DAL will be reporting its second-quarter earnings on Thursday. Wall Street expects $2.37 in EPS and $15.5 billion in revenues as the company reports before market hours.

The stock is down 3.57% over the past year, but up 16.16% YTD.

Let’s examine the charts for Delta Air Lines stock and see how it aligns with Wall Street estimates.

DAL Stock – Strong Bearish Trend Ahead Of Q2 Earnings 

Delta Air Lines stock is currently experiencing a strong bearish trend, with its share price of $46.79 below key exponential moving averages (EMA) of 5, 20 and 50 days. This indicates sustained selling pressure.

Chart created using Benzinga Pro

Additionally, DAL’s 8-day simple moving average (SMA) of $46.81 and its 20-day SMA of $48.33 both signal bearish trading sentiment. The 50-day SMA at $50.22 further reinforces this bearish outlook.

However, the 200-day SMA at $42.46 provides a contrasting bullish signal, suggesting potential long-term support.

Chart created using Benzinga Pro

The Moving Average Convergence Divergence (MACD) indicator at -1.00 suggests continued downside momentum, while the Relative Strength Index (RSI) at 38.33 indicates that DAL is close to the oversold territory, possibly hinting at a near-term bounce.

Moreover, the Bollinger Bands for the 25-day ($45.77 – $51.72) period suggests a bearish signal, confirming the current bearish outlook.

Investors should note these technical indicators as they assess their positions in Delta Air Lines stock.

Read Also: Delta Earnings On Deck After TSA Screens Record 3M Passengers: Analyst Says Airline Has ‘Insulation’ To Industry Issues

Delta Air Lines Analysts See 30% Upside

Ratings & Consensus Estimates: The consensus analyst rating on Delta Air Lines stock stands at a Buy, with a price target of $57.39. The latest analyst ratings from TD Cowen, Jefferies and Citigroup imply a 29.38% upside for Delta Air Lines Inc., with an average price target of $60.67.

DAL Price Action: Delta Air Lines stock was trading 0.43% lower at $46.69 at the time of publication Wednesday.

Read Next:

• Delta Air Lines Likely To Report Lower Q2 Earnings; Here Are The Recent Forecast Changes From Wall Street’s Most Accurate Analysts

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