In the most straightforward scenario, this stock should trade in a narrow consolidation range for a few days before continuing downwards to the dotted line support.
Alaska Air Group displays clear characteristics of a bubble, more precisely of a bubble preparing to burst. On the wings of a 6 year old bull market and more recently fueled by cheap oil prices this stock was propelled from 2.53$ in 2008 to 82.78$. The stock rose more then 30x from the low or as Peter Lynch would say, for those that bought it at those prices it...
$ALK has form nice bullish butterfly pattern. The weekly also tested a support. Some Analyst has target price around $60-$70 area. Earning also bid the estimate by 3%+. Technical analysis is strongly supported buy its fundamental.
#ALK
News. Alaska Air gets positive Barron's mention
Shares of Alaska Air (ALK) may be poised for a Barron's bounce come Monday morning.Avi Salzman says that although the stock slipped last week in the wake of a DOJ suit which threatens to block the AMR/ U.S. Airways merger, the company "appears to have little exposure to the lawsuit, has been one of the steadiest...
