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Downtrend Broken Resist.Archive
- 9/6/2024 -
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Alaska Air Group Inc (ALK) Technical Analysis
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| Summary:
| | Weekly : | | Daily : 
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| | It was a fifth consecutive positive week for the Alaska Air Group Inc (ALK). During the week, the ALK gained 1.48 points, or 4.10%, and closed at 37.59 on Friday, September 6, 2024. It was the best weekly gain since July 26, 2024. Weekly volume was -8% 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 21.83 and resistance is at 48.50. 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 uptrend support line (42.32) is broken. A broken support is considered to be a long-term bearish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a medium-term trend.
 Weekly Technical Indicators: [See ALK weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since June 14, 2024. 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 32.62 on August 6, 2024. ALK lost 13.53 points, or 29.32%, in 106 days. The chart has formed a Broadening Descending Wedge chart pattern. The price is near the trend resistance line (37.14). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a short-term trend.
Daily Technical Indicators: [See ALK daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is above its signal line since August 14, 2024.
During the last week, the price has advanced above the 50 Day Moving Average. Such crossover is considered a bullish 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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