On Wednesday, Alaska Air Group reached a noteworthy technical benchmark, seeing its Relative Strength (RS) Rating jump into the 90-plus percentile with an improvement to 94, up from 90 the day before.
IBD's unique RS Rating tracks technical performance by showing how a stock's price action over the last 52 weeks measures up against that of the other stocks in our database.
History reveals that the market's biggest winners typically have an 80 or higher RS Rating as they launch their biggest runs.
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Alaska Air Group is now considered extended and out of buy range after clearing a 42.28 buy point in a first-stage cup with handle. See if the stock forms a new pattern or follow-on buying opportunity like a three-weeks tight or pullback to the 50-day or 10-week line.
Earnings grew 23% last quarter, up from -15% in the prior report. Revenue also increased, from 2% to 8%.
Alaska Air Group earns the No. 3 rank among its peers in the Transportation-Airline industry group. Skywest is the No. 1-ranked stock within the group.
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