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When resistance turns into support...

  • Writer: Jay
    Jay
  • Oct 6, 2017
  • 1 min read

and then turns into resistance again...

Here's the Daily chart:

ALK

Check out the Weekly chart... although the week is not over yet... The Fibonacci retracement from 2016 low to 2017 high confirms the support to resistance at $83.50 (38.2 retracement). Even if $ALK is able to break that level, it will still remain in a downtrend channel. The 200MA pointing higher remains a good argument for the bulls. Let's see what $ALK will do today...

$ALK Weekly

 
 
 

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