Delta Airlines stock has formed a candle over candle reversal on the chart. The large players volume is uptrending and the CMF has just broken above the zero line.
Five years ago, Delta Air Lines bought a refinery to protect against the risk of high crack spreads. In the wake of Hurricane Harvey, Delta's move now looks brilliant as it totally insulated itself against crack spreads, something their competitors did not do.
Hurricane Harvey has pushed the crack spread up more than 100% at the beginning of September. The crack spread has since come down but it is still at a very elevated level as the chart below shows.
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Author: Lance Jepsen
For ethical purposes, I try not to hold any position in any stock I profile on GuerillaStockTrading.com unless specifically stated in the article. Owner of GuerillaStockTrading.com. Seasoned entrepreneur, investor, and writer. I love God, family, country, stock trading, economics, and helping people learn how to trade. View all posts by Lance Jepsen