Delta Air Lines (DAL): Head-and-shoulders into earnings — The key levels I’m watching

Delta Air Lines (DAL) reports earnings on Thursday morning. Heading into the print, I’m focused on the technicals: the chart is showing a head and shoulders pattern. I draw the neckline from the end of June through the lows of July into where price is now. Although the right shoulder is smaller, the structure remains valid in my book, and I’m treating it with respect going into the event.

A quick background on DAL for context: Delta Air Lines is a major U.S. carrier with a broad network serving both domestic and international routes. The company’s business centers on passenger travel, loyalty and partner programs, and cargo operations, supporting a wide mix of leisure and business demand.

If the head and shoulders plays out to the measured move, my expectation is that DAL would fall below the $46 level. There’s also a pivot low around that same area from the end of June that provides support. As always, I remind myself to use proper risk management when trading earnings—volatility can be sharp, and position sizing plus predefined stops matter more than opinions on the day.

Earnings days can tempt traders to overreach, but I’ll stick to the technicals and let the levels do the talking. If price confirms the pattern and momentum follows through, I’ll act accordingly; if not, I’ll wait patiently for cleaner signals.