Alaska Air Group Inc Stock Forecast
Green day on Monday for Alaska Air Group Inc
(Updated on Apr 22, 2024)
The Alaska Air Group Inc stock price gained 1.16% on the last trading day (Monday, 22nd Apr 2024), rising from $45.01 to $45.53. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 2.40% from a day low at $45.07 to a day high of $46.15. The price has risen in 6 of the last 10 days and is up by 6.93% over the past 2 weeks. Volume fell on the last day by -774 thousand shares and in total, 2 million shares were bought and sold for approximately $104.62 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock has broken the wide and strong rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $44.95, a level that may pose a second chance to hit a runner. According to fan-theory $49.55 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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ALK Signals & Forecast
The Alaska Air Group Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $42.97 and $40.50. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 11.59%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely. Some negative signals were issued as well, and these may have some influence on the near short-term development. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Alaska Air Group Inc stock
Alaska Air Group Inc finds support from accumulated volume at $44.44 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.08 between high and low, or 2.40%. For the last week, the stock has had daily average volatility of 3.52%.
Our recommended stop-loss: $44.10 (-3.14%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 4 days ago.)
Trading Expectations (ALK) For The Upcoming Trading Day Of Tuesday 23rd
For the upcoming trading day on Tuesday, 23rd we expect Alaska Air Group Inc to open at $45.58, and during the day (based on 14 day Average True Range), to move between $44.14 and $46.92, which gives a possible trading interval of +/-$1.39 (+/-3.05%) up or down from last closing price. If Alaska Air Group Inc takes out the full calculated possible swing range there will be an estimated 6.09% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $44.44, some $1.09 (2.39%) from the current price of $45.53, our system finds the risk reward attractive.
Is Alaska Air Group Inc stock A Buy?
Alaska Air Group Inc holds several positive signals and has broken the strong rising trend up. As the stock is also in great technical shape we, therefore, consider it to be a good choice at these current levels and we are expecting further gains during the next 3 months.
Current score: 6.281 Strong Buy Candidate Unchanged
Predicted Opening Price for Alaska Air Group Inc of Tuesday, April 23, 2024
| Fair opening price April 23, 2024 | Current price |
|---|---|
| $45.58 ( 0.117%) | $45.53 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ALK
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 46.66 | 2.49 % | |
| R2 | 46.25 | 1.58 % | ||
| R1 | 46.00 | 1.02 % | ||
| Current price: | 45.53 | |||
| Support | S1 | 45.17 | -0.789 % | |
| S2 | 44.92 | -1.35 % | ||
| S3 | 44.50 | -2.25 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 45.53 | |||
| Support | S1 | 44.44 | -2.39% | |
| S2 | 37.42 | -17.81% | ||
| S3 | 35.83 | -21.30% |
ALK Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 28, 2020 | Feb 14, 2020 | Mar 05, 2020 | $0.375 | 0.86% |
| 2 | Nov 07, 2019 | Nov 18, 2019 | Dec 05, 2019 | $0.350 | 0.520% |
| 3 | Aug 07, 2019 | Aug 19, 2019 | Sep 05, 2019 | $0.350 | 0.552% |
| 4 | May 09, 2019 | May 20, 2019 | Jun 06, 2019 | $0.350 | 0.574% |
| 5 | Jan 24, 2019 | Feb 15, 2019 | Mar 07, 2019 | $0.350 | 0.626% |
FAQ
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