Delta Down 3% After Q4 Report

Delta Air Lines, Inc. DAL shares are trading lower by $1.50 (3 percent) at $49.94 in Thursday's session. With a such a nice runup into the release, the inline report has not been enough to keep the rally intact.

After a flat open, it managed to exceed Wednesday's high ($51.74), reaching $52.00 before reversing course. So far, the ensuing decline has taken the issue to $49.67 and is struggling to reclaim the $50 handle.

If the decline continues through the current low, there may be additional support at its January 9 low ($49.42) and also at the pair of low at the $49.20 area from January 3 ($49.17) and January 6 ($49.22).