You never know where you will find your next good-looking chart. This morning we looked at one of the airlines: Hawaiian Holdings (HA).
For 10 months, HA was stuck in a sideways consolidation pattern, but it recently broke out to a new high.
The On-Balance-Volume (OBV) line is pointed in the right direction and the slope of the 50-day simple moving average is positive.
This five-year weekly chart shows the upside breakout on HA clearly, and it shows the bullish 40-week, or 200-day moving average and the positive Moving Average Convergence Divergence oscillator.
Taking the height of the consolidation and adding it to the recent breakout gives us a price target for HA in the $32 area.
Not a bad beginning.