ALK will be added as both a Short Setup, with an entry to be triggered on a break below this daily rising wedge pattern, as well as an Active Short trade (for aggressive traders) here at the top of this contracting channel on the weekly chart. Shorts remain counter-trend trades right now on all time frames (short, intermediate and long-term) so short trades so my preference on an aggressive short entry here would be a partial position with the plan of adding to the position if, and only if, prices break below the daily rising wedge pattern. At this time, the one and only target will the the lower trendline on the weekly chart although additional targets may be added. Stops TBD based upon the entry price (i.e.- breakdown level on the daily chart) with stops for the aggressive entry on a move above the recent highs. Daily & weekly charts:
