The Greedy Trader Weekly Analysis
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Downtrend Broken Resistance
Downtrend Broken Resistance stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Downtrend broken resistance stock market alert is a trend trading warning signal. It is a confirmation that long term downtrend reversal is completed and a new uptrend is establiched.

Unlike other alerts, broken resistance is not a buy/sell signal. It is rather warning signal that trend direction has changed. For entry point it is usually better to wait for pull back and retest of resistance line. This point is considered as a second chance to participate in downtrend reversal.
Technical analysis of stock trend chart following long term trend analysis and trend following indicator for broken resistance trend trading. Stock trend analysis and broken resistance trend following indicators.
trend trading,trend following,stock trend chart,technical analysis of stock trend,trend following indicator,following long term trend,Broken Resistance

Alaska Air Group Inc (ALK)

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Summary:
Weekly :Overbought sectorWilliams' Percentage Range is oversoldBroken trend support line
Daily :The price has fallen below the Parabolic SARThe price is below the lower Bollinger Band20 Day Moving Average has crossed below the 50 Day Moving AverageWilliams' Percentage Range is oversold
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It was the negative week for the Alaska Air Group Inc (ALK). During the week, the ALK dropped -3.60 points, or -8.11%, and closed at 40.78 on Friday, September 23, 2022. It was the worst weekly loss since June 10, 2022. Weekly volume was -16% 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 April 7, 2021 at 74.25 and reached 38.19 on June 17, 2022. ALK lost 36.06 points, or 48.57%, in 62 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 33.22 and resistance is at 56.38. 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 June 17, 2022 at 38.19 and reached 48.76 on August 15, 2022. ALK gained -10.57 points, or -27.68%, in 8 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend support line (43.41) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. ALK may retest the broken support line. It is considered to be a resistance 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 support in a medium-term trend.

Weekly Technical Indicators: [See ALK weekly technical indicators chart]
Weekly Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold 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 August 5, 2022. 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 downtrend had started on September 12, 2022 at 47.41 and reached 40.10 on September 23, 2022. ALK lost 7.31 points, or 15.42%, in 11 days. The chart has formed a Descending Triangle chart pattern.

Daily Technical Indicators: [See ALK daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range.

The daily MACD line is below its signal line since September 19, 2022. This is an indication that the short-term trend is down.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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.

The price has closed on Friday below the lower Bollinger Band. It is considered a bearish signal. 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.

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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 40.83
Williams' Percentage Range (W%R) 85.60
Oversold
Lane's Stochastic (%D-Slow) 21.78
Greed/Fear Indicator (GFI) 25.66
Moving Average Converg./Diverg. (MACD) -0.09
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 50.84
Williams' Percentage Range (W%R) 81.00
Oversold
Lane's Stochastic (%D-Slow) 54.78
Greed/Fear Indicator (GFI) 41.36
Moving Average Converg./Diverg. (MACD) -2.30
Trading Signals
Description Value Chart
Upper Bollinger Band 47.54
Parabolic System 46.79
Monthly Trendline Resistance 46.77
50 Day Moving Average 44.89
20 Day Moving Average 44.66
Weekly Stochastic Crossing 44.62
Monthly Trendline Support 43.41
Lower Bollinger Band 41.50
Daily Stochastic Crossing 41.06
Price 40.78
Quarterly Trendline Support 33.22
Sector and Industry
Description Name Rank
Sector Industrials 9
Industry Airlines 45
Daily Trend
Description Value
Direction Down
Chart Pattern Descending Triangle
High 47.41
High Date 09/12/2022
Low 40.10
Low Date 09/23/2022
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 48.76
High Date 08/15/2022
Low 40.10
Low Date 09/23/2022
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Broken Support
Resistance 46.77
Support 43.41
Low 38.19
Low Date 06/17/2022
High 48.76
High Date 08/15/2022
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 56.38
Support 33.22
High 74.25
High Date 04/07/2021
Low 38.19
Low Date 06/17/2022
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 20.02
Low Date 03/18/2020
High 74.25
High Date 04/07/2021
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.

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