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Advanced TA SearchArchive
- 6/7/2024 -
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Alaska Air Group Inc (ALK) Technical Analysis
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| Summary:
| | | Weekly : | | Daily :  
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| | It was the negative week for the Alaska Air Group Inc (ALK). During the week, the ALK dropped -1.28 points, or -3.05%, and closed at 40.74 on Friday, June 7, 2024. It was the worst weekly loss since March 1, 2024. Weekly volume was -33% below average.
 Long-term trend: [See ALK long-term trend chart]
A long-term downtrend had started on April 7, 2021 at 74.25 and reached 30.75 on November 1, 2023. ALK lost 43.50 points, or 58.59%, in 134 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 24.44 and resistance is at 50.35. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a long-term trend.
 Medium-term trend: [See ALK medium-term trend chart]
A medium-term uptrend had started on November 1, 2023 at 30.75 and reached 46.15 on April 22, 2024. ALK gained -15.40 points, or -50.08%, in 24 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 38.90 and resistance is at 47.72. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a medium-term trend.
 Weekly Technical Indicators: [See ALK weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since December 1, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.
 Short-term trend: [See ALK short-term trend chart]
A short-term downtrend had started on April 22, 2024 at 46.15 and reached 39.20 on May 29, 2024. ALK lost 6.95 points, or 15.06%, in 37 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
Daily Technical Indicators: [See ALK daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since April 26, 2024. This is an indication that the short-term trend is down.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
During the last week, the 20 Day Moving Average has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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