Alaska Air Group (NYSE:ALK) Buy on Dips
Overall, the bias in prices is: Upwards.
Short term: Prices are moving.
Intermediate term: Prices are trending.
Note: this chart shows extraordinary price action to the upside.
By the way, prices are vulnerable to a correction towards 66.73.
The projected upper bound is: 73.38.
The projected lower bound is: 67.70.
The projected closing price is: 70.54.
A white body occurred (because prices closed higher than they opened).
During the past 10 bars, there have been 6 white candles and 4 black candles for a net of 2 white candles. During the past 50 bars, there have been 28 white candles and 22 black candles for a net of 6 white candles.
Separating lines occurred. If the lines occur during an uptrend (which appears to be the case with ALASKA AIR GROUP) and the first line is black and the second is white (which is the case with ALASKA AIR GROUP) then this suggests that the uptrend should continue.
If the separating lines occur during a downtrend and the first line is white and the second is black (which is not the case with ALASKA AIR GROUP) then this suggests that the downtrend should continue.
Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.
One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 78.4191. This is not an overbought or oversold reading. The last signal was a sell 1 period(s) ago.
Relative Strength Index (RSI)
The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 61.85. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 23 period(s) ago.
Commodity Channel Index (CCI)
The CCI shows overbought (above 100) and oversold (below -100) areas. The current value of the CCI is 125.This is an overbought reading. However, a signal isn’t generated until the indicator crosses below 100. The last signal was a buy 11 period(s) ago.
The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a buy 6 period(s) ago.
Rex Takasugi – TD Profile
ALASKA AIR GROUP closed up 1.100 at 70.430. Volume was 12% above average (neutral) and Bollinger Bands were 14% narrower than normal.
Open High Low Close Volume___
70.000 71.230 69.940 70.430 412,458
Short Term: Overbought
Intermediate Term: Bullish
Long Term: Bullish
Moving Averages: 10-period 50-period 200-period
Close: 68.21 67.19 69.67
Volatility: 28 27 37
Volume: 302,608 262,758 403,221
Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.
ALASKA AIR GROUP is currently 1.1% above its 200-period moving average and is in an upward trend. Volatility is extremely low when compared to the average volatility over the last 10 periods. There is a good possibility that there will be an increase in volatility along with sharp price fluctuations in the near future. Our volume indicators reflect volume flowing into and out of ALK.N at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on ALK.N and have had this outlook for the last 2 periods.
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