Delta Air shares close lower on Thursday, technical glitch may not cause flight cancellations, air carrier says

Delta Air Lines Inc (DAL) said earlier this week that a technical glitch, which had affected booking, check-in and boarding services, might not lead to flight cancellations.

Delta Air shares closed lower for the fifth time in the past fourteen trading sessions in New York on Thursday. It has also been the steepest daily loss since June 14th. The stock went down 0.69% ($0.39) to $55.97, after touching an intraday low at $55.33, or a price level not seen since June 17th ($55.26).

Shares of Delta Air Lines Inc have risen 12.18% so far in 2019 compared with a 17.84% gain for the benchmark index, S&P 500 (SPX).

In 2018, Delta Air’s stock went down 10.89%, thus, it again underperformed the S&P 500, which registered a 6.24% loss.

“While we expect flight delays to extend into the evening at some of our busiest domestic hubs due to this issue and weather, we do not expect any technology-related cancellations,” Delta Air said in a statement, cited by Reuters.

“Delta is slowing flights into our busiest hub in Atlanta to reduce congestion,” the airline said.

According to CNN Money, the 20 analysts, offering 12-month forecasts regarding Delta Air’s stock price, have a median target of $67.50, with a high estimate of $90.00 and a low estimate of $56.00. The median estimate represents a 20.60% upside compared to the closing price of $55.97 on June 20th.

The same media also reported that 13 out of 22 surveyed investment analysts had rated Delta Air’s stock as “Buy”, while 6 – as “Hold”.

Weekly Pivot Levels

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 – $55.90
R1 – $57.33
R2 – $58.66
R3 – $60.09
R4 – $61.51

S1 – $54.57
S2 – $53.14
S3 – $51.81
S4 – $50.47