Alaska Air’s stock (ALK) rose 5% higher on Friday morning, after reporting that revenue passenger miles increased by 6.5% and passenger capacity increased by 7.2% in February 2018.
That’s some good news for this beaten down airline.
Better times ahead for Alaska Air?
Upon reviewing the weekly stock chart below, we can see that ALK recently started the rising phase of a new market cycle.
During such periods, it is normal for stock prices to move higher. This may prove to create an intermediate-term bottom.
Our near-term target is $69.
Alaska Air (ALK) Stock Chart with Weekly Bars
For an introduction to cycle analysis, check out our Stock Market Cycles video.
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The author may have a position in mentioned securities at the time of publication. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
