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
Earnings 1/24 AMC may act as the catalyst
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...
Entry : 66 to 67 ishh Stop Loss : 59 ishh Profit : 73 + Holding Period : 4 to 6 Months
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...
going long it doesn't show on this chart but RSI is over sold we have a nice pin bar on support
Enjoy the blue skies for awhile, but don't book a ticket on the final fatal flight!
Alaska Air is currently trading at the top of its downtrend channel, a bearish engulfing pattern is currently forming (although we'll need to wait for the close to confirm) and the RSI has already turned down from a high level....
How I trade weekly stoch ALK buy off weekly stoch
1. Down action looks corrective. 2. RSI oversold with positive reversal. 3 Recent volume spike. 4 Will use any close < “C” as my stop. Fundamentals: seekingalpha.com
Alaska Air has been absent from the recent airlines rally as the company struggles to regain momentum after weather related issues. The company's integration of Virgin Airways is a mega-plus for the Airline after organic routes kept coming under weather-related pressures. It's recent venture with Singapore Air will be another plus for the Airline's Asia...