Looking over the one week chart we can see that a bottom might be in and indicators suggest that we're in for an uptrend. Furthermore, we seem to have a prime catalyst with earnings coming up - any stroke of good news and guidance could send this thing higher. Expect a peak if other airlines do well in the coming weeks also.
RSI: Shows oversold on the weekly ...
Alk forming a nice bull flag possibility of the upside giving us over a 2>1 ratio only buy on the flag break target near our area 62. this move will run out of steam very soon regardless short term play only here never financial advice
ALK is approaching our first support at 57.47 (horizontal swing low support, 61.8% fibonacci extension) where a strong bounce might occur above this level pushing price up to our major resistance at 62.35 (horizontal pullback resistance, 50% fibonacci retracement).
Stochastic (89,5,3) is also approaching support where we might see a corresponding bounce in price
ALK moving in a perfect ascending channel. Right time to jump in since the stochastic is in oversold area.
Taking profit $70-71
Stop Loss $57.5 (.5 dollars below the minimum of July)
Expecting reach the goal on January 2019
Today 8/24/2018- I've entered a long position into Alaska Airlines (ALK) as the stock has been trading sideways for over 200 days and seems to have a strong support at 58$( average 60$ a share). There was an resistance zone at 64.00$ and it broke through it to 68$ and has now retrace back to 64.75$ a share which could now be a new support area. Not only is the...
ALK is fundamentally cheap in terms of Price/Sales per Share and Price/CF per Share. Its hard timing buys on Valuation, but I think the chart finally looks like the downside has abated. I expect it to trade up from here.
ALK continues to show interesting development on the hourly chart, as it edges toward the apex of a very large bullish falling wedge. Earlier this week, we saw price broke down from a bearish rising wedge in an attempt to take out the downward trend line of the larger bullish wedge. The price bounced off a support level yesterday, before reaching the bottom of the...