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SkyWest, Inc

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SKYW 10/25/2023SKYW Daily chart analysis On every rally since 2020, the price has continued to form lower highs ever since the impact of COVID-19. The high point was in January 2020, and subsequent rallies in March 2021, October 2021, and August 2023 all failed to surpass the previous high. After being in a downtrend throughout 2022, the price rallied and then pulled back for the entirety of 2023 so far. It briefly rose above the level it fell below in January 2022, which marked the start of the downtrend. However, the price couldn't sustain this momentum. It began moving sideways between July and early October 2023, forming what appeared to be an M-Top pattern. The price then broke down below the M-Top's neckline, confirming a bearish reversal pattern. Interestingly, this neckline also corresponds to the resistance level established in January 2022 when the price entered the downtrend. This suggests that the price is likely to continue the previous downtrend. Entering trade short. Entry: 38.27 Stoploss: 44.17, -15.42% Target: 14.93, +60.99%, 3.96 RR ratio
NASDAQ:SKYWShort
by rudcharts
SkyWest (SKYW), Valuation Chart for InvestingLooking at the average analyst target and Anchor for NASDAQ:SKYW I see some potential downside in the near future that could present some buying opportunities. The company has been one of the only Airlines that I am willing to invest in at the moment. Overall, SkyWest has had a mixed earnings growth trend over the past 4 quarters. The company has reported both positive and negative earnings growth during this time period. The company's earnings growth trend is likely to be affected by a number of factors, including the overall economic environment, the performance of the airline industry, and the company's own operational performance. This also should provide great opportunities to buy in... Fundamentals are looking good.
NASDAQ:SKYWLong
by D1Finance
SKYW | Another Airline Play | OversoldSkyWest, Inc., through its subsidiaries, operates a regional airline in the United States. The company operates through two segment, SkyWest Airlines and SkyWest Leasing. It also leases regional jet aircraft and spare engines to third parties. As of December 31, 2021, the company's fleet consisted of 629 aircraft; and provided scheduled passenger and air freight services with approximately 2,080 total daily departures to various destinations in the United States, Canada, Mexico, and the Caribbean. In addition, it offers airport customer and ground handling services for other airlines. SkyWest, Inc. was incorporated in 1972 and is headquartered in St. George, Utah.
NASDAQ:SKYWLong
by DivergenceSeeker
Cup and HandleAirlines are pulling back as of late...Guess some of us think they will continue to fly and others think the sky exists no longer.. Go with your gut on travel stocks..if you think it will be a "Long and dark" winter, they may not be for you.. I feel folks will still travel and when the government and the media decides to let the flu mania and the control go away (If they do) they will recover.. I am thinking airlines would be more of a longer term investment and I am looking forward to better times ahead. I will be glad when 2020 is over! May pull back to the handle low and some do go long from the handle..I have on occasion if I feel very good about a stock...but only then. Mid cup is 33.10 Cup low is 22.25 Not a recommendation
NASDAQ:SKYWLong
by lauralea
Harmonic Patterns ABC BullishI see the airlines trading in an ABC bullish pattern Stop is under C which would be around 28 or below for SKYW. But UAL, HA, LUV, DAL, SAVE, JBLU, AAL are all trading in this pattern but would all have different entries, targets and stops of course. Not a recommendation, just an observation Markets demonstrate repetitive swings and harmonic patterns emerge. Fibonacci can help but also looking at resistance zones above you. The tops and bottoms of gaps above you are usually going to cause a problem and volume is need to push through. A lot to be aware of, volume, indicators, candles, patterns, news..it can be a lot to absorb. But the great thing about this pattern is how close your stop is to your entry. AB=CD is an example of the symmetry that can be found in the market. There is also a bearish ABC pattern as well. Bullish AB=CD patterns are formed after a prolonged downtrend and bearish AB=CD are formed after a prolonged uptrend A PCZ zone is calculated "Point of Completion Zone". We are all different and looking at hard core resistance zones can change your zones. News and earnings also contribute as well as overall market sentiment. Every stock or commodity is different...so use your indicators such as RSI as well. And remember you are not the only one seeing and trading these patterns. The target zones are added to your point of break out. A conservative trader may be happy with hitting B after entering at C. Things such as earnings and resistance zones, as well as news can change your target zones as well The pattern consists of three legs, with two equal legs labelled AB and CD, together they form a zig-zag shape. It can be used in any financial market and on any time frame. The first leg (A-B) is formed as the price rises from A to B. The retracement (from B to C) can be between 38.2% to 78.6% of the A-B leg, however, an ideal pattern has a retracement of 61.8% to 78.6%. (some may short this leg) At point C, the price switches direction again and continues its original uptrend. This leg (C-D) slopes upwards, parallel with the A-B leg and should ideally be the same length as the A-B leg when it completes. The ideal AB=CD pattern is equal in time and price, with point D being an Fibonacci extension between 127%-161.8% of the B-C leg. But as we all know, nothing in life or trading is always "ideal" and that is where our indicators, support and resistance, and candles can help us … the AB=CD pattern helps you identify when a price is about to change direction so that you can buy when prices are low and sell when they are high. … the pattern consists of three legs, with two equal legs labelled AB and CD, together they form a zig-zag shape … it can be used in any financial market and on any time frame. … when a market is trending upwards, the first leg (A-B) is formed as the price rises from A to B. … at point B, the price switches direction and retraces down sharply to form the B-C leg – ideally a 61.8% or 78.6% retracement of the price increase between points A and B. … the price then continues its original uptrend, forming a C-D leg that should be the same length as the A-B leg. … once you have decided where you think the pattern will complete (point D), you should place a sell order at this point I do not short the market as a rule, but if someone knows their stuff and like to short, they could short the stock or commodity on leg B to C and then again at the PCZ (point of completion zone) or "D" as the stock heads down again to resume it's harmonic patterns once again
NASDAQ:SKYWLong
by lauralea
Skywest Inc $SKYW - November breakout of 15 yr rangeLong term chart pattern followers will love this breakout pattern in Skywest ($SKYW) shares. Shares didn't breakout on major volume, but sellers didn't step in and drive down shares, so low volume isn't necessarily a problem, but I will still keep an eye on it if we see heavy volume on the downside. Now that we have seen December and January have a much higher low than was seen in 2001 and 2005, the chart is telling me that we have signs of much stronger buyers this time around. I highlighted the monthly "highest low" as support as well as the dual "Highest Monthly High" as another important level for $SKYW to hold on pullbacks. Looking at the way $SKYW tends to rally once it gets going, you can imagine that we could be set for the same thing again this time around, even though prices are up substantially from the lows seen in 2014. One observation you will see here is that I drew a curve that only touches the lowest monthly highs (see the 3 brown touch-points on the curved line. I prefer this method for seeing the real story behind the accumulation in any market. (Look for "highest lows" to understand buyer strength, and look for "lowest highs" to understand seller strength). Next I will dig into fundamentals of $SKYW valuation relative to my other favorites: $LUV, $DAL, $JBLU and $CPA. Cheers, Tim 2/22/2017 11:22PM EST
NASDAQ:SKYWLong
by timwest
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