ALK - If today is 3rd bearish engulfing, swing puts

Short

Alaska Air Group, Inc. (NYSE:ALK)

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NYSE:ALK Alaska Air Group, Inc.

The yellow rectangle shows two bearish engulfing candles. Today might be a third. If so, a trade below the candle's low is a trigger for puts. Also RSI is below 50 and stochastic is crossing below it. Downside targets are 23.30, 21, below 20

Commentaire:

alternatively, This is also a great place to buy calls. You exit if stock trades below today's low.

Commentaire:

You can buy 5/15, 30 strike calls (low volume on June) with a stop below 27.02. This is a short term trade.
Also set an alert due to yesterday's bearish engulfing candle - if stock trades at 27.01 or lower, buy puts.

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