Delta Air shares gain for a second session in a row on Wednesday, passenger unit revenue expected to be close to upper end of forecast

Delta Air Lines Inc (DAL) now projects that its second-quarter passenger unit revenue will be close to the upper end of its forecast, due to rising revenues. The carrier also revised up the lower end of its second-quarter forecast for operating margin from 17% to 18%. At the same time, the upper end of that forecast was left unchanged at 19%.

Delta Air shares closed higher for a second consecutive trading session on Wednesday. The stock went up 0.50% ($0.27) to $54.33, with the intraday high and the intraday low being at $54.61 and $53.74 respectively. In the week ended on July 2nd the shares of the transportation company added 1.55% to their market value compared to a week ago, which marked a second consecutive period of gains, but yet, it has been the smallest increase since the week ended on June 4th. The stock has extended its advance to 1.10% so far during the current month, following a 9.38% surge in June. The latter has been a second consecutive monthly gain and also the sharpest one since last November. For the entire past year, Delta Air shares retreated 2.96%.

The carrier’s passenger unit revenue, a key indicator comparing sales to flight capacity, was reported to have increased 2.5% during the quarter ended on June 30th. In comparison, Delta Airs forecast had pointed to an increase in this key metric at a rate between 1% and 3% during the same three-month period.

According to CNN Money, the 16 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 $52.00. The median estimate is a 15.96% surge compared to the closing price of $54.33 on July 5th.

The same media also reported that 13 out of 19 surveyed investment analysts had rated Delta Air’s stock as “Buy”, while 3 – as “Hold”.

Daily and Weekly Pivot Levels

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

R1 – $54.41
R2 – $54.49
R3 (Range Resistance – Sell) – $54.57
R4 (Long Breakout) – $54.81
R5 (Breakout Target 1) – $55.09
R6 (Breakout Target 2) – $55.21

S1 – $54.25
S2 – $54.17
S3 (Range Support – Buy) – $54.09
S4 (Short Breakout) – $53.85
S5 (Breakout Target 1) – $53.57
S6 (Breakout Target 2) – $53.45

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 – $53.62
R1 – $54.65
R2 – $55.55
R3 – $56.58
R4 – $57.60

S1 – $52.72
S2 – $51.69
S3 – $50.79
S4 – $49.88