SkyWest, Inc.Long
Skywest Inc $SKYW - November breakout of 15 yr range
Updated
Long term chart pattern followers will love this breakout pattern in Skywest (SKYW) shares.
Shares didn't breakout on major volume, but sellers didn't step in and drive down shares, so low volume isn't necessarily a problem, but I will still keep an eye on it if we see heavy volume on the downside. Now that we have seen December and January have a much higher low than was seen in 2001 and 2005, the chart is telling me that we have signs of much stronger buyers this time around.
I highlighted the monthly "highest low" as support as well as the dual "Highest Monthly High" as another important level forSKYW to hold on pullbacks.
Looking at the waySKYW tends to rally once it gets going, you can imagine that we could be set for the same thing again this time around, even though prices are up substantially from the lows seen in 2014.
One observation you will see here is that I drew a curve that only touches the lowest monthly highs (see the 3 brown touch-points on the curved line. I prefer this method for seeing the real story behind the accumulation in any market. (Look for "highest lows" to understand buyer strength, and look for "lowest highs" to understand seller strength).
Next I will dig into fundamentals ofSKYW valuation relative to my other favorites: 
LUV, 
DAL, 
JBLU and CPA.
Cheers,
Tim 2/22/2017 11:22PM EST
SKYW) shares.Shares didn't breakout on major volume, but sellers didn't step in and drive down shares, so low volume isn't necessarily a problem, but I will still keep an eye on it if we see heavy volume on the downside. Now that we have seen December and January have a much higher low than was seen in 2001 and 2005, the chart is telling me that we have signs of much stronger buyers this time around.
I highlighted the monthly "highest low" as support as well as the dual "Highest Monthly High" as another important level for
SKYW to hold on pullbacks. Looking at the way
SKYW tends to rally once it gets going, you can imagine that we could be set for the same thing again this time around, even though prices are up substantially from the lows seen in 2014.One observation you will see here is that I drew a curve that only touches the lowest monthly highs (see the 3 brown touch-points on the curved line. I prefer this method for seeing the real story behind the accumulation in any market. (Look for "highest lows" to understand buyer strength, and look for "lowest highs" to understand seller strength).
Next I will dig into fundamentals of
SKYW valuation relative to my other favorites: LUV, DAL, JBLU and CPA.Cheers,
Tim 2/22/2017 11:22PM EST
Note
Without the fundamental windows below which clog up the chart.
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