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FinraMoving Average Convergence/Divergence oscillator (MACD) is one of the simplest and most effective momentum indicators available.
Relative Strength Index (RSI) is a momentum oscillator that measures the speed and change of price movements. RSI oscillates between zero and 100. According to Wilder, RSI is considered overbought when above 70 and oversold when below 30.
Upbeat air-travel demand bodes well for the Alaska Air (ALK) stock.
An Alaska Airlines-operated MAX 9 jet experienced a mid-air cabin panel blowout in January, which led to the U.S. Federal Aviation Administration grounding 171 of the aircraft for about three weeks. The credit memos can be used to make future purchases at Boeing, Alaska said in its quarterly report on Friday. Boeing is also compensating United Airlines — a prominent customer — to address the financial damages related to the grounding.
Buoyant air travel demand bodes well for the Zacks Transportation - Airline industry. Stocks like UAL, ALK and CPA appear well-poised to capitalize on this rosy scenario.
The average of price targets set by Wall Street analysts indicates a potential upside of 26.4% in Alaska Air (ALK). While the effectiveness of this highly sought-after metric is questionable, the positive trend in earnings estimate revisions might translate into an upside in the stock.
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Alaska Air (ALK) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
ALK vs. RYAAY: Which Stock Is the Better Value Option?
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Here is how Alaska Air Group (ALK) and International Seaways (INSW) have performed compared to their sector so far this year.
Alaska Air (ALK) could be a great choice for investors looking to buy stocks that have gained strong momentum recently but are still trading at reasonable prices. It is one of the several stocks that made it through our 'Fast-Paced Momentum at a Bargain' screen.