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

For an introduction to cycle analysis, check out our Stock Market Cycles video, or watch the askSlim Market Week show every Friday on our YouTube channel.

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