Alaska Airlines ( NYSE:ALK ) faced a hiccup in its operations as flights were temporarily grounded due to an issue with the system responsible for calculating weight and balance. The incident, which affected both Alaska Airlines ( NYSE:ALK ) and its regional carrier Horizon Air, prompted swift action from the U.S. Federal Aviation Administration (FAA) and sparked...
A price action below 38.00 supports a bearish trend direction.
Further bearish support for a break below 38.00 as well.
The target price is set at 35.00 (its 61.8% Fibonacci retracement).
The stop-loss is set at 40.00 (close to its 200-day simple moving average).
A double top pattern or M-Top pattern might unfold.
Remains a risky trade.
NYSE:ALK Has formed a bullish impulse with a healthy correction and a lower degree impulse with a lower degree correction that is breaking out of the larger degree trend line!
This is great confirmation of a trend continuation setup.
Overview
Alaska Airlines is a subsidiary for Alaska Air Group. If you aren't familiar with the verbiage, this means that Alaska Air Group ( NYSE:ALK ) is the umbrella company that owns Alaska Airlines. In light of the Boeing ( NYSE:BA ) mishap that occurred yesterday in Oregon and in addition to the current trend on ALK's 1D chart, I believe ALK will correct...
On the H4 chart the trend started on Nov. 9 (linear regression channel).
There is a high probability of profit taking. Possible take profit level is 40.80
But we should not forget about SL = 30.67
Using a trailing stop is also a good idea!
Please leave your feedback, your opinion. I am very interested in it. Thank you!
Good luck!
Regards, WeBelieveInTrading
Alaska Air Group, Inc. (ALK) - Bearish Price Action with Fibonacci Retracement Analysis
Date:
Overview: Alaska Air Group, Inc. (ALK) is currently showing signs of a bearish trend with an expected retracement up to the 0.618 Fibonacci level. This analysis aims to provide insight into the potential downward movement and key levels to watch.
Current Market...
Hey guys,
This may take off once the market opens in the next hour but you may have a chance to catch this up move.
We have the following items in the technical analysis which indicates a bullish up move to target levels:
1. Nice clean identifiable impulse
2. Healthy correction to 38.2 fib level
3. Correction longer in duration than Impulse
4. Healthy...
Key Takeaway
1. Alaska Airlines has agreed to acquire its rival Hawaiian Airlines in a deal valued at about $1.9 billion.
2. The combined company would be based in Seattle, where Alaska Airlines is headquartered, and led by its CEO, Ben Minicucci.
3. The airlines said they will aim to combine their resources while “maintaining” each of their respective brand...
I'm examining a pairs trading strategy featuring Southwest Airlines Co. (LUV) and Alaska Air Group, Inc. (ALK). These are two significant players in the domestic airline sector. Both airlines have their own set of merits and challenges, which opens up a trading opportunity. I'm contemplating going long on LUV and short on ALK, capitalizing on their unique...
White are Weekly resistance levels
Yellow - are Daily channel
possible move 20% up or down. Preferable down to ±33.74 and in the future to 25.5 where strong Weekly resistance
Red are 2 hourly bearish Flags
Price is below the resistance line.
A break up and through the top line would be a long entry level and a break down below the bottom line would be a short entry level if one were to trade using this pattern.
No recommendation
Alaska Air Group, Inc., through its subsidiaries, provides passenger and cargo air transportation services. The company operates through three segments: Mainline, Regional, and Horizon. It flies to approximately 120 destinations throughout North America. Alaska Air Group, Inc. was founded in 1932 and is based in Seattle, Washington.
Earning estimated to be on 4-21 BMO.
Possible stop below 52.25 which is Mid V.
Long entry level is right above the high of the 1st peak of the V. ALK is not to long entry level.
No recommendation.
Also appears to be an Inverse head and shoulders.
The right shoulder is C and has broken neckline of 57.55.
Resistance overhead from the bottom trendline of a prior rectangle top (left)
No recommendation
