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SmarTrend Watching for Potential Pullback in Shares of Alaska Air Group After 2.30% Gain

By Shiri Gupta

Alaska Air Group (NYSE:ALK) traded in a range yesterday that spanned from a low of $64.30 to a high of $65.56. Yesterday, the shares gained 2.3%, which took the trading range above the 3-day high of $65.10 on volume of 876,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, Alaska Air Group share prices have been bracketed by a low of $54.51 and a high of $101.43 and are now at $65.43, 20% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.3% while the 200-day MA has remained constant.

SmarTrend recommended that its subscribers protect gains by selling shares of Alaska Air Group on January 19th, 2018 by issuing a Downtrend alert when the shares were trading at $69.33. Since that call, shares of Alaska Air Group have fallen 7.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders alaska air group

Ticker(s): ALK