Alaska Air (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.
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
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