The Greedy Trader Weekly Analysis
Sign In May 24, 2024
Skip Navigation Links
TA Search
Share
Daily RSI:< 30
Number of records: 10
Symbol:  

• Symbol Lookup
• View Technical Chart
• Add to Watch List
• Candlestick Patterns
• Stock Technical Indicators
• Stock Trends Analysis
• Market Sector Rank
• Stock Trading Signals

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.

Advanced TA Search

Archive
- 5/17/2024 -
Sign In to see current Signals.

Alaska Air Group Inc (ALK) Technical Analysis

Subscribe to TheGreedyTrader Weekly Alerts
Summary:
Weekly :Williams' Percentage Range is overbought
Daily :The price is close to the moving average in the center of the Bollinger BandsThe Bollinger Bands are historically close together
Move cursor over the icon to see details.

It was the negative week for the Alaska Air Group Inc (ALK). During the week, the ALK dropped -0.47 points, or -1.07%, and closed at 43.29 on Friday, May 17, 2024. Weekly volume was -43% 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 25.03 and resistance is at 50.77. 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 price is now at the 18.57% retracement level.

Weekly Technical Indicators: [See ALK weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range. 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 Williams' Percentage Range help.

The weekly MACD line is above its signal line since December 1, 2023. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See ALK short-term trend chart]
A short-term uptrend had started on January 17, 2024 at 33.24 and reached 46.15 on April 22, 2024. ALK gained -12.91 points, or -38.84%, in 96 days. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 39.58 and resistance is at 48.77. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a short-term trend.

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. The distance between MACD and the signal line is low and getting smaller.

The price is close to the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands (7.21%) is close to one year low (7.46%). It is 54.45% lower than one year average. It indicates the period of low volatility of the stock price, and it is considered a buy signal for the option traders. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 43.10
Williams' Percentage Range (W%R) 61.10
Lane's Stochastic (%D-Slow) 45.51
Greed/Fear Indicator (GFI) 42.49
Moving Average Converg./Diverg. (MACD) 0.52
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 65.89
Williams' Percentage Range (W%R) 19.10
Overbought
Lane's Stochastic (%D-Slow) 74.92
Greed/Fear Indicator (GFI) 70.47
Moving Average Converg./Diverg. (MACD) 0.44
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 50.77
Weekly Trendline Resistance 48.77
Upper Bollinger Band 44.84
Parabolic System 44.72
Weekly Stochastic Crossing 44.39
20 Day Moving Average 43.68
Daily Stochastic Crossing 43.56
Price 43.29
50 Day Moving Average 41.95
Lower Bollinger Band 41.72
Weekly Trendline Support 39.58
Sector and Industry
Description Name Rank
Sector Industrials 7
Industry Airlines 89
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 46.15
High Date 04/22/2024
Low 42.11
Low Date 05/01/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 48.77
Support 39.58
Low 33.24
Low Date 01/17/2024
High 46.15
High Date 04/22/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 30.75
Low Date 11/01/2023
High 46.15
High Date 04/22/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 50.77
Support 25.03
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.