SkyWest (SKYW)

Shares of SkyWest, Inc. (NASDAQ:SKYW) closed the trading session at $14.64 placing the price action in a very tight range, given that calculated support is set at $14.31 and the calculated resistance based on an algorithm of peaks and troughs is set at $15.07, according to TradersHuddle.com. SkyWest, Inc. operates SkyWest Airlines and ASA Airlines that offer scheduled passenger service to destinations in the United States, Canada, Mexico and the Caribbean for major airlines Delta, United and AirTran.
SkyWest's stock price action indicates that both sellers and buyers are materializing very close to each other, which is indicative to a momentum building area, as the stock can resolve by breaking out of the tight range that developed. According to TradersHuddle.com individuals wanting to establish a position should place close attention to SkyWest's price action, as any movement outside its predefined range of $14.31 and $15.07 could grab the attention of momentum buyers, looking for a big movement in the price of the stock.

Mar 26 · 12:14:00 PM · Source: TradersHuddle.com
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by Steve Wieczorek