• Return to Headlines

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

By James Quinn

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 $29.43 and $30.32 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 177.6% exists for Alaska Air Group, based on a current level of $29.59 and analysts' average consensus price target of $82.15. Alaska Air Group shares should first meet resistance at the 50-day moving average (MA) of $47.47 and find additional resistance at the 200-day MA of $61.08.

In the past 52 weeks, shares of Alaska Air Group have traded between a low of $20.02 and a high of $72.22 and are now at $29.59, which is 48% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.9% while the 50-day MA has declined 4.7%.

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 monitoring the recent change of momentum in Alaska Air Group. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Alaska Air Group in search of a potential trend change.

Keywords: bearish inside day candle alaska air group

Ticker(s): ALK