In this updated daily bar chart of ALK, below, we can see a nice base pattern from February. Prices have found buying on dips to $58 and in the past few weeks prices have rallied above the rising 50-day moving average line and the flat 200-day line.
The 50-day line is about to cross above the slower-to-react 200-day line for a bullish golden cross.
The daily On-Balance-Volume (OBV) line tells a very bullish story as it has been going straight up from late May and tells us that buyers of ALK have been very aggressive.
The Moving Average Convergence Divergence (MACD) oscillator is bullish too.
In this weekly bar chart of ALK, below, we can see a bullish set-up. Prices are above the flat 40-week moving average line.
The weekly OBV line is firm and the weekly MACD oscillator is about to give us an outright go long signal as it is poised to cross the zero line.
In this Point and Figure chart of ALK, below, we can see an ascending triple top breakout with a $79.00 price target.
Bottom line strategy: Traders and investors could go long ALK here, risking below $62 and look for gains to $79 for the first target.