One of These Planes is Not Like the Others

Browsing through the regional airline stocks there is a big similarity in their stock charts. The fell lower and are trading in a range, maybe rising slightly, but well off of the highs. the chart for Alaska Air Group ($ALK) below shows the bear flag. there are some good signs with the Relative strength

Index (RSI) trending higher, but nothing that says “Buy Me” beyond a ride to the top of the channel where the 200 day Simple Moving Average (SMA) is sitting. The chart for JetBlue Airways ($JBLU) is similar. A big fall and then consolidation in what could be an ascending triangle. But a mixed bag with the RSI trending higher and the Moving Average Convergence Divergence (MACD) indicator

fading lower as it touches the falling 50 day SMA leaving no strong case either way until it is out of the flag. the chart for Southwest Airlines ($LUV) is very similar as well. But one regional airline is sitting at the end of the runway revving engines to take off. Allegiant Travel ($ALGT) had the same fall and then rising channel as the others but it has now consolidated sideways out of that channel and continues to test previous resistance at 47.93. The RSI and MACD are also supportive of more upside. Watch this name as a leader in the space.

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The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

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