On Monday, Delta Air Lines received an upgrade to its Relative Strength (RS) Rating, from 90 to 94.
IBD's proprietary RS Rating identifies market leadership by using a 1 (worst) to 99 (best) score that indicates how a stock's price performance over the trailing 52 weeks matches up against other publicly traded companies.
Over 100 years of market history reveals that the market's biggest winners typically have an RS Rating of at least 80 at the beginning of a new price run.
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Delta Air Lines is now considered extended and out of buy range after clearing a 52.45 buy point in a second-stage cup with handle. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week moving average.
Delta Air Lines reported -26% EPS growth last quarter, while sales growth came in at 1%.
The company earns the No. 7 rank among its peers in the Transportation-Airline industry group. Skywest, Sun Country Airlines and Alaska Air Group are among the top 5 highly rated stocks within the group.
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