Downtrend Broken Resist.Archive
- 11/24/2023 -
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Alaska Air Group Inc (ALK) Technical Analysis
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|It was a fourth positive week after 14 consecutive negative weeks for the Alaska Air Group Inc (ALK). During the week, the ALK gained 0.44 points, or 1.20%, and closed at 37.20 on Friday, November 24, 2023. Weekly volume was -22% below average. |
ALK is a member of Industrials Sector. Industrials is the second 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 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 price is now at the 14.83% retracement level.
Medium-term trend: [See ALK medium-term trend chart]
A medium-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. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
Weekly Technical Indicators: [See ALK weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since August 11, 2023. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term downtrend is getting weak. 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 November 16, 2023 at 36.09 and reached 37.98 on November 22, 2023. ALK gained -1.89 points, or -5.24%, in 6 days. The price is now at the 41.27% retracement level.
Daily Technical Indicators: [See ALK daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range and Lane's Stochastic. Daily Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. 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 links to access Lane's Stochastic and Williams' Percentage Range help.
The daily MACD line is above its signal line since October 25, 2023. This is an indication that the short-term trend is up.