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SkyWest Inc. Message Board

  • airwolf1980 airwolf1980 Dec 2, 2004 12:03 PM Flag

    over 20, at least for now

    i would love for a technical analyst to tell us about the skyw chart. i don't know the details, but the stock is moving in the right direction. once it gets past 20, who knows where it goes.

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    • Airwolf,

      I'm not a technician, but I can share some of my thoughts from looking at the charts. My view is an amateur's view, so take it with a grain of salt.

      From stockcharts dot com, we are currently in a pattern called a triple top breakout according to the F&F chart (Point and figure chart - I have found these useful for longer-term investing - they aren't useful for daytraders.) They have, from this chart, a preliminary bullish price objective of $31.50, but I don't really pay attention to that. That P&F chart shows a top level resistance going back 2 years at about $21.00. That is where Raymond James has their price target as well, though others have higher ones.

      $20.00 is a psychological resistance point. Other stocks, like my SGP has problems with that level, so this may as well. The 52-week high is around $20.70, and going back 2 years, the high is $21.10. If this stock can break these levels, especially on higher than average volume, this can go much higher. Going back to early 2002 (?), this was at $30 or so, but I can't make that kind of prediction at this point.

      Bottom line, we are still going in the right direction on decent volume. If we continue up and break $21.00, then we may have something special here. We need to wait and see on that one, but I think we are looking at a test of $21.00 in the next couple of weeks, or so. We'll see.

      That's my elementary amateurish view of the TA of this stock at the moment.

      Good luck. I'll keep the "Buy" rating on this for now.


      BTW - does your Airwolf id have anything to do with the TV show?

29.02+0.75(+2.65%)Jul 22 4:00 PMEDT