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Possible Bearish Inside Day Candle Pattern Detected for Alaska Air Group (NYSE:ALK)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Alaska Air Group (NYSE:ALK) based on the price action in the company's shares. Today's price range of $60.23 and $61.65 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Alaska Air Group may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Potential upside of 35.0% exists for Alaska Air Group, based on a current level of $60.85 and analysts' average consensus price target of $82.15. The stock should run into initial resistance at its 50-day moving average (MA) of $62.26 and subsequent resistance at its 200-day MA of $68.78.

Alaska Air Group share prices have moved between a 52-week high of $95.75 and a 52-week low of $57.53 and are now trading 6% above that low price at $60.85 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.9% while the 50-day MA has declined 1.1%.

Alaska Air Group, Inc. is an airline holding company. The Company, through its subsidiaries, provides air services to passengers in multiple destinations. Alaska Air also provide freight and mail services, primarily to and within the state of Alaska and on the West Coast.

SmarTrend is tracking the current trend status for Alaska Air Group and will alert subscribers who have ALK in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle alaska air group

Ticker(s): ALK