Although shares have marched lower since early June, Lang believes Delta may have bottomed and is ready to march higher.
Looking at the chart, he notes that Delta made a low in early July just below $35. About a month later, Delta re-tested that low and it held. That's a bullish development.
At the same time, Lang says the stock is now trading above its 50-day moving average, which is a very positive sign for most chart watchers.
And Lang says the Moving Average Convergence Divergence line, or MACD, an indicator that helps technicians predict changes in a stock's trajectory, made a bullish crossover. That too, is positive.
All told, Lang says there's every reason to believe Delta is going up, up, up. Trend lines suggest to him, Delta could print $42 or more.