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.

Hang on.

I already own this stock.

I purchased some shares of this Dow Transport back on Fri, May 25, 2018.

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.

What do you think about "ALK Stock Price Continuing Uptrend"?

Let me know in the comments section!

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Hello! My name is Tom Adishian and I am the creator and developer of Symbol Surfing. I use this site on a daily basis as a time-saving resource to identify trading and investing ideas. If you have a comment, question or suggestion, contact me.

Thu, Oct 4, 2018 ALK @ $66.82

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