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Daily RSI Divergence:Bullish
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Relative Strength Index (RSI Indicator)

The Relative Strength Index is a popular momentum oscillator, developed by Welles Wilder, Jr. It is one of the most widely used technical indicators. Relative Strength Index compares upward vs. downward movements in closing over a selected period. The RSI Indicator fluctuates from 0% to 100%. A stock with RSI Indicator higher than 70% is considered overbought and lower than 30% - oversold. A good rule is to adjust overbought/oversold index range to 80% in bull and to 20% in bear markets. Relative Strength Index can provide an early warning, but not the final signal. It should be used in conjunction with other stock picking techniques. The divergence between RSI Indicator and underlying stock price is the most important signal provided by RSI, and it can be an indication of an impending reversal. Using the RSI divergence (bullish and bearish), chart patterns, trendlines, support, and resistance lines along with the RSI Indicator chart can be very useful.

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- 2/16/2024 -
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Alaska Air Group Inc (ALK) Technical Analysis

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Summary:
Weekly :Overbought sectorBroken trend resistance line
Daily :Lane's Stochastic is overboughtPrice is close to the 50 Day Moving AverageThe price has risen above the Parabolic SAR
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It was a second consecutive positive week for the Alaska Air Group Inc (ALK). During the week, the ALK climbed 0.33 points, or 0.89%, and closed at 37.52 on Friday, February 16, 2024. Weekly volume was -21% below average.

ALK is a member of Industrials Sector. Industrials is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See ALK long-term trend chart]
A long-term downtrend had started on July 13, 2023 at 57.18 and reached 30.75 on November 1, 2023. ALK lost 26.43 points, or 46.22%, in 15 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (34.31) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. ALK may retest the broken resistance line. It is considered to be a support line now. 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 resistance line 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 41.22 on December 26, 2023. ALK gained -10.47 points, or -34.05%, in 7 weeks. The price is now at the 35.34% retracement level.

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, but getting bigger. It indicates that the current medium-term uptrend is getting stronger. 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 December 26, 2023 at 41.22 and reached 33.24 on January 17, 2024. ALK lost 7.98 points, or 19.36%, in 22 days. The chart has formed a Symmetric Triangle chart pattern.

Daily Technical Indicators: [See ALK daily technical indicators chart]
Daily Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.

The daily MACD line is above its signal line since January 25, 2024.

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.

Price is close to the 50 Day Moving Average. While daily technical indicators are overbought, the 50 Day Moving Average is considered a resistance level. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 51.92
Williams' Percentage Range (W%R) 20.90
Lane's Stochastic (%D-Slow) 80.46
Overbought
Greed/Fear Indicator (GFI) 70.49
Moving Average Converg./Diverg. (MACD) -0.05
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 56.66
Williams' Percentage Range (W%R) 37.00
Lane's Stochastic (%D-Slow) 42.70
Greed/Fear Indicator (GFI) 52.00
Moving Average Converg./Diverg. (MACD) -1.82
Trading Signals
Description Value Chart
Upper Bollinger Band 38.32
Price 37.52
Daily Stochastic Crossing 37.46
50 Day Moving Average 37.17
Weekly Stochastic Crossing 36.94
20 Day Moving Average 36.49
Monthly Trendline Resistance 36.22
Parabolic System 35.12
Lower Bollinger Band 35.12
Monthly Trendline Support 34.31
Sector and Industry
Description Name Rank
Sector Industrials 12
Industry Airlines 59
Daily Trend
Description Value
Direction Down
Chart Pattern Symmetric Triangle
High 41.22
High Date 12/26/2023
Low 33.24
Low Date 01/17/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 30.75
Low Date 11/01/2023
High 41.22
High Date 12/26/2023
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 36.22
Support 34.31
High 57.18
High Date 07/13/2023
Low 30.75
Low Date 11/01/2023
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 74.25
High Date 04/07/2021
Low 30.75
Low Date 11/01/2023
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 101.43
High Date 03/01/2017
Low 20.02
Low Date 03/18/2020
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.