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
- Alaska Airlines and UP.Labs launch Odysee, an AI-enabled startup taking a new approach to schedule optimization • PR Newswire (US) • 10/02/2024 12:00:00 PM
- Alaska Air Group Announces Pricing of Upsized Senior Secured Notes Offering • PR Newswire (US) • 10/01/2024 10:18:00 PM
- Alaska Airlines inaugurates service on five new routes • PR Newswire (US) • 10/01/2024 12:00:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 09/30/2024 12:45:29 PM
- Alaska Air Group Announces Proposed Senior Secured Notes Offering • PR Newswire (US) • 09/30/2024 12:45:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/24/2024 08:41:45 PM
- Hawaiian Airlines Now Offering Fast and Free Starlink Wi-Fi Across Entire Airbus Fleet • PR Newswire (US) • 09/24/2024 07:00:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 09/24/2024 12:50:31 PM
- Alaska Air Group announces proposed Mileage Plan financing • PR Newswire (US) • 09/23/2024 04:42:00 PM
- Alaska Airlines expands cargo division and establishes new leadership and enterprise oversight post merger with Hawaiian Airlines • PR Newswire (US) • 09/23/2024 12:00:00 PM
- Apollo Eyes $5 Billion Investment in Intel; TSMC and Samsung Explore UAE Chip Projects, and More • IH Market News • 09/23/2024 10:32:25 AM
- Alaska Air Group announces Investor Day in December • PR Newswire (US) • 09/20/2024 03:13:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 09/18/2024 12:55:29 PM
- Alaska Airlines completes acquisition of Hawaiian Airlines, expanding benefits and choice for travelers • PR Newswire (US) • 09/18/2024 12:55:00 PM
- Meta Strengthens Child Privacy on Instagram; Google Overturns $1.7 Billion Antitrust Fine; Snap Updates Spectacles • IH Market News • 09/18/2024 10:13:07 AM
- Alaska Air Group announces interim Honolulu leadership team to guide combination with Hawaiian Airlines • PR Newswire (US) • 09/17/2024 09:00:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 09/17/2024 06:30:19 PM
- Intuitive Machines Soars 18% on NASA Contract, Intel Considers Splitting Operations, Dell Reassesses Selling SecureWorks • IH Market News • 08/30/2024 10:00:08 AM
- A new way to book your next stay: Alaska Airlines partners with Expedia Group to launch Stays by Alaska Vacations • PR Newswire (US) • 08/20/2024 04:00:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/20/2024 10:00:26 AM
- Berkshire Reduces Stake in BofA, Hawaiian Airlines Soars 10%, Paramount Receives $4.3B Offer, and More • IH Market News • 08/20/2024 09:56:02 AM
- Deutsche Bank Faces Shareholder Backlash, Bank of America Sponsors 2026 World Cup, Quanterix CEO Buys More Shares • IH Market News • 08/16/2024 10:03:21 AM
- Google Mandated to Modify Play Store, Apple Innovates, Victoria’s Secret Hires CEO, Mars Buys Kellanova • IH Market News • 08/15/2024 10:05:46 AM
- Google Forced to Modify Play Store, Apple Innovates, Victoria’s Secret Hires CEO, Mars Buys Kellanova • IH Market News • 08/15/2024 10:05:46 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/14/2024 09:36:35 PM
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