Alaska Air Bucks the Selling and Remains Strong

Arthur Hill
by Arthur Hill,
Chief Technical Strategist, TrendInvestorPro.com

Alaska Air (ALK) fell sharply in early June, established support just above 46 and bounced off this support zone the last few days. This is impressive considering the selling pressure that hit the market this week. Notice the hollow, or white, candles. These form when the close is well above the open, which means there was buying pressure during the day. The indicator window shows the StockCharts Technical Rank (SCTR) holding above 70 as ALK continues to show relative strength.


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Arthur Hill
About The Author:

Arthur is the Chief Technical Strategist at TrendInvestorPro. Focused primarily on US equities and ETFs, his systematic approach of identifying trend, finding signals within and setting key price levels has made him an industry-leading technician. Learn More 

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