Wednesday, November 01, 2017 11:45:34 AM
Leading airline stock Alaska Air Group, Inc. (NYSE:ALK) has been under selling pressure for most of 2017. This stock topped out on March 1, 2017 at $101.43 a share. Since that peak in the stock price shares have fallen by nearly 36.0 percent. Today, ALK stock is trading at $64.82 a share. Traders and investors should note that ALK stock is trading below its 200 week moving average. This is a very negative chart formation that ultimately indicates lower stock prices ahead.
So where is the next major support level for ALK stock? It looks as if this stock was defended by the institutional money back in July 2016. This tells me that the institutional crowd will likely defend this stock again when it trades down to the $56.50 area which was the July 2016 low. I will be a buyer of ALK shares at this level with a weekly chart stop loss below $53.00. This should serve as solid risk/reward trade setup. The first upside target would be the $61.00 level. See you on the charts!
Nicholas Santiago
InTheMoneyStocks
Recent ALK News
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/09/2024 09:43:33 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/07/2024 08:00:48 PM
- Alaska Airlines launches new way for guests to join the journey to help make air travel more sustainable • PR Newswire (US) • 05/07/2024 01:00:00 PM
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- Apple to Invest $250 Million in Singapore Expansion, Oracle Commits $8 Billion to Japan Infrastructure, and More News • IH Market News • 04/18/2024 11:11:52 AM
- Alaska Air Group reports first quarter 2024 results • PR Newswire (US) • 04/18/2024 09:00:00 AM
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- Alaska Air Group announces webcast of first-quarter 2024 financial results • PR Newswire (US) • 04/08/2024 01:00:00 PM
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- Your Alaska Airlines Mileage Plan miles go farther with Global Getaways • PR Newswire (US) • 04/03/2024 12:00:00 PM
- Alaska Airlines deepens commitment to Bay Area with new nonstop service between Santa Rosa/Sonoma County and Las Vegas • PR Newswire (US) • 03/21/2024 12:00:00 PM
- Introducing Alaska Access: A new subscription service by Alaska Airlines to save on travel planning and costs • PR Newswire (US) • 03/20/2024 12:00:00 PM
- Alaska Airlines technicians vote YES on new contract • PR Newswire (US) • 03/14/2024 05:18:00 PM
- Intel Loses Pentagon Funding, Shell Plans 20% Business Team Reduction, and Latest News • IH Market News • 03/13/2024 11:02:03 AM
- Alaska Air Group to webcast J.P. Morgan Conference • PR Newswire (US) • 03/08/2024 01:00:00 PM
- Alaska Air Group to webcast J.P. Morgan Conference • PR Newswire (US) • 03/08/2024 01:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/29/2024 11:43:21 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/27/2024 09:08:18 PM
- Alaska Airlines adds exclusively brewed beer in unique can to premium beverage line-up • PR Newswire (US) • 02/20/2024 01:00:00 PM
- Alaska Air Group to webcast Citi Conference • PR Newswire (US) • 02/16/2024 01:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/16/2024 11:29:43 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 02/16/2024 11:27:03 AM
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