ALK Stock Price Continuing Uptrend
This is a Post from the Symbol Surfing Blog from Thu, Oct 4, 2018.
So it's already October. 2019 is around the corner. Wow.
Time flies when you're having fun!
Speaking of fun, I was Symbol Surfing the Golden Cross page and there are a few stocks that look good.
The 2nd company in the list is Alaska Air and it looks really good.
I already own this stock.
If you don't have time to read the blog post, I was betting that the positive news about lower gas prices would spark the reversal in the downtrend.
ALK was a relatively riskier choice as it was near the 52 week low.
Also, the 1-year return was -28% at the time.
At the same time, I thought this stock could have the biggest upside.
The stock continued to run up into earnings and I held on.
The earnings announcement was well received by the market.
Now, I am up about 10%.
Then I see this chart below (without the obnoxious golden cross...I did that myself, not bragging, but...)
The golden cross is a bullish chart pattern that occurs when the 50-day moving average crosses through the 200-day moving average.
I think technical analysis is real but I do not solely rely on it.
The golden cross is just another reason why I will continue to hold this stock.
The 5-year chart shows a trading range between $60 and $80.
Also, keep in mind, the all-time high was $101.43 on Wed, Mar 1, 2017.
The stock pulled back down to a 52 week low of $57.53 on Mon, May 21, 2018.
I bought 4 days later.
So I am holding on for now. Maybe it gets to $80 or higher longer term.
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Thu, Oct 4, 2018 ALK @ $66.82
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