The outlook for the airline sector, $XAL, as well as the individual stocks within that index, many of which appear to be offering very objective trade setups with above average gain potential. Note: If you click the settings icon (cog/gear icon), you have the option to increase the playback speed of the video (1.25x, 1.5x or 2x playback speed), effectively shortening the duration of the video.
Following today's breakdown below this uptrend line, SKYW SkyWest Airlines) is poised to continue its descent along with the rest of the airline sector. Horizontal lines mark potential targets/resistance levels. SKYW daily June 8th As I've already recently added seven airline stocks as Active Short Trade ideas, SKYW won't be added as an official trade idea in trying to efficiently manage the trade ideas but I figured that it was worth sharing for those looking to initiate or increase short exposure to the airline sector. As mentioned recently, several of those airline shorts have hit one or more profit [...]
The following short trades will be moved to the Completed Trades category. Some of these trades were profitable, hitting a price target before bouncing while others were stopped out for a loss. In in effort to streamline the number of Active Trades on the site, I plan to continue removing any trades that no longer offer a clearly favorable risk-to-reward (R/R) profile throughout the week. As of now, all remaining Active Short Trades have been reviewed and still look bearish at this time although several are approaching their suggested stop criteria or may be removed should price continue much higher. MDCO- [...]
The SKYW short setup has triggered an entry on the break below the descending triangle pattern today. The price targets have been added to this updated daily chart. Suggest stop on a daily close above the pattern (blue downtrend line).
For those looking for some short-side trade candidates, including hedges to a portfolio of longs, the Airline Sector continues to offer some of the most attractive technical setups at this time. This first string of charts below are the daily and weekly charts of several key airline sectors with clear annotations as to my take on these charts: The charts below are all daily time frame charts of some of my favorite setups in the airline sector, including the updated chart of the ALK current active short trade, which looks poised to offer a new objective entry and/or add-on to [...]