Stock pick for 12/15/2011
ALK - long
Technical view: Daily chart clear show us consolidation after strong bounce from daily 200sma support area. Always after consolidation I’m interested for another wave. If we look at ALK 15 min chart we can see intraday range and that can be used for trading plan too, but that is more aggressive possibility especially if will be setup right after the open. In that case stop can be under $71.75 (20sma 15 min). I don’t know what kind of open will be but if 15 min range will continue then I will use it for stop and until then stop will be under $71. Weekly and monthly time frame charts support ALK move to new high. For now we can say that ALK is own way chart and that don’t care much about market action.
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