Delta Air Lines, Inc. (DAL) stock price recorded a decline in its latest intraday trading, after coming into contact with resistance at its 50-day SMA. This coincided with a retest of a short-term bullish trendline that the stock had previously broken, doubling the negative pressure surrounding it, especially with negative signals emerging from the Stochastic indicator after reaching extremely overbought levels.
Therefore we expect the stock price to decline during its upcoming trading sessions, as long as resistance at $69.45 remains intact, targeting the first support level at $62.90.
Today’s price forecast: Bearish
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General Motors Company (GM) stock price stabilized with losses in its latest intraday trading, as it rests on the key support level at $72.10$ in preparation to break it. This occurs amid the dominance of a short-term corrective bearish wave, with continued negative pressure resulting from trading below its 50-day SMA. In addition, negative signals are emerging from the Stochastic indicator after forming a negative divergence as a result of reaching overbought levels that are excessive relative to price action, which adds more negative pressure surrounding the stock.
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