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Investors To See Share Price Increase As Delta Airlines Makes New Policy

Since Delta Airlines hit its all-time high in July 2019 at $63, the bears have been significantly active as price plummeted to $17 in May 2020. The global lockdown played a huge role in this nosedive as it did for other airlines like Virgin Atlantic and Southwest Airlines. Following the global roll-out of vaccines and the subsequent ease of the lockdown in the last quarter of 2020, the $DAL share price got a reasonable boost that pushed the price above $50.

Weekly Chart

Recently, Delta Airlines announced a New Policy Shift that was targeted at easing travel fares for flights with high price tags. This loyalty program was run all through 2021 and still continued this year but it was meant to be temporary. However, the airline has now announced that the benefits from this loyalty scheme will become permanent. According to the announcement, Delta Airlines will be the first airline in the industry to announce this type of benefit.

Daily Chart

This year, the resistance for $DAL has been maintained at $45.20 while the support level is at $29.84. This new policy is expected to influence the movement of the share price to the upside. Although there are several Dojis in the upper region of the Bollinger Bands, the bulls could steal the trend and as a result, the price could rally. This rally might push the price above $50 which is over a 35% increase from the current price of $37.

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