I’ve had some good trades recently in both JBLU and SAVE and another one has started to run that caught my eye. Alaska Air Group Inc (ALK) is starting to test a downtrend resistance level which started back in early 2017. It has fallen into a level of major volume support as seen below.
We want to see a close above the resistance level, and should this happen, I think a strong move follows to the upside. I am waiting for a pull back since it is up nearly 4% today, but will get involved in April calls as long as we stay above volume support around $66.
I like it to $75 by April, Joey.
OC