Oct 012014
ALK weekly Oct 1st

ALK weekly Oct 1st

ALK (Alaska Air Group Inc) will trigger a short entry on any move below 42.20. T2 (34.40) is the current preferred target with a suggested stop over 45.10. ALK was recently shorted on a break of the daily uptrend line back in late July and hit the sole profit target for a quick 10% gain less than 10 trading sessions later. That previous trade was meant to be a relatively quick trade with a modest profit target because the price target on the daily chart also corresponded with this more significant, longer-term uptrend line shown here on the weekly chart. As expected, ALK did bounce off that initial tag of both the horizontal support (T1 on the daily chart) and the intersecting longer-term bull market uptrend line which goes all the way back to the July 2008 lows.

With ALK now trading below that long-term bull market uptrend line & a weekly candlestick close below likely to occur by end-of-day Friday, ALK looks to offer an objective long-term swing short entry here although it would be prudent to wait for prices to break below the former T1 horizontal support level of 42.20 (which would also take out today's earlier LOD of 42.21).

click here to view the live, annotated weekly chart of ALK   or  click here to view the live, annotated daily chart of ALK (notations are from the previous trade).

 October 1, 2014 12:02 pm  Completed Trades - Short Tagged with:
Aug 062014

*+-ALK (Alaska Air Group) has hit the first & final target, T1 at 42.20, for a 9.8% gain in less than 10 trading sessions. Consider booking full profits or at least lowering stops as ALK will now be moved to the Completed Trades category.

 August 6, 2014 9:44 am  Completed Trades - Short Tagged with:
Jul 242014

*+-ALK (Alaska Air Group) offers an objective short entry on this break below the multi-year uptrend line. A suggested stop over 48.30 is based on the current sole profit target of 42.20 (additional targets may be added). The notes on the chart states an entry [continue reading…]

 July 24, 2014 1:46 pm  Completed Trades - Short Tagged with:
Oct 282013

*+-The following short trades will be moved to the Completed Trades category.  While none of these trades reached their final price target, many of these trades did hit one or more profits targets before bouncing & exceeded their previously suggested (or any reasonable) stop level(s).  [continue reading…]

 October 28, 2013 10:23 am  Completed Trades - Short Tagged with: , , , , , , , , , , , , , , , , , , ,
Oct 172013

*+-Since hitting the first target for a very quick 13% gain back in May, the ALK short continued to move lower, bottoming in June & just recently moving back above the original entry price.  As the stock has formed a new bearish rising wedge pattern [continue reading…]

 October 17, 2013 10:38 am  Completed Trades - Short Tagged with:
May 212013

*+-The first target that was added to the ALK short trade has now been hit for a one-day, 13% gain.  Consider booking partial or full profits and/or raising your stops, depending on your trading plan.  Updated daily chart below preceded by yesterday’s original daily chart [continue reading…]

 May 21, 2013 12:21 pm  Completed Trades - Short Tagged with:
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