Delta Air shares gain the most in over 1 year on Tuesday, company reports a 0.3% increase in September traffic

October 4, 2017 7:57 am

The second-largest airline in the United States by passenger traffic, Delta Air Lines Inc (DAL), said its total revenue passenger miles (RPMs) rose 0.3% to 17.654 million last month, as domestic and international RPMs went up at one and the same monthly rate.

Delta Air shares closed higher for the second time in the past five trading sessions on Tuesday. It has also been the steepest daily surge in more than a year. The stock went up 6.62% ($3.18) to $51.25, after touching an intraday high at $51.37, or a price level not seen since August 7th ($51.55).

In the week ended on October 1st the shares of the transportation company lost 0.52% of their market value compared to a week ago, which marked the first drop in the past three weeks. The stock has neutralized earlier losses and is now up 6.28% so far during the current month, following a 2.18% surge in September. The latter has been the first gain out of three months.

For the entire past year, Delta Air shares retreated 2.96%. However, the stock has risen 4.19% so far in 2017.

The airline said it projected an operating margin within the range between 15.5% and 16.5% of sales in September due to a 1% negative impact from Hurricane Irma.

The company also reported its capacity grew 0.6% to 20.923 million available seat miles (ASMs) last month, as domestic ASMs rose 2.2%, while international ASMs shrank 1.8%.

According to CNN Money, the 17 analysts, offering 12-month forecasts regarding Delta Air’s stock price, have a median target of $63.00, with a high estimate of $75.00 and a low estimate of $50.00. The median estimate is a 22.93% surge compared to the closing price of $51.25 on October 3rd.

The same media also reported that 15 out of 19 surveyed investment analysts had rated Delta Air’s stock as “Buy”, while 1 – as “Hold”.

Daily and Weekly Pivot Levels

With the help of the Camarilla calculation method, today’s levels of importance for the Delta Air stock are presented as follows:

R1 – $51.53
R2 – $51.81
R3 (Range Resistance – Sell) – $52.10
R4 (Long Breakout) – $52.94
R5 (Breakout Target 1) – $53.93
R6 (Breakout Target 2) – $54.52

S1 – $50.97
S2 – $50.69
S3 (Range Support – Buy) – $50.40
S4 (Short Breakout) – $49.56
S5 (Breakout Target 1) – $48.57
S6 (Breakout Target 2) – $47.98

By using the traditional method of calculation, the weekly levels of importance for Delta Air Lines Inc (DAL) are presented as follows:

Central Pivot Point – $48.21
R1 – $49.29
R2 – $50.37
R3 – $51.45
R4 – $52.54

S1 – $47.13
S2 – $46.05
S3 – $44.97
S4 – $43.90

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