Tighten Your Seat Belt on Alaska Air

We haven't discussed Alaska Air Group (ALK) for several months, but the advice we gave wasn't bad: "With momentum slowing and the lack of strong buying from the daily OBV line, we get a message that ALK can pull back or decline in the short to intermediate term. I would anticipate that ALK can revisit the $90-$85 area in the weeks ahead. This anticipated weakness could be a buying opportunity, but we don't want to get a non-refundable ticket just yet."

Looking at the daily bar chart (below) we can see our flight plan for ALK was pretty good. ALK declined to around $85 and made a rally to $95, the lower end of a $95-$101 area of resistance from February and March. Let's see if a new flight plan is needed....234 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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