Airline stocks are on the move Monday with nice gains across the board. Hawaiian Airlines (HA) and Skywest (SKYW) are leading the way with breakouts and 52-week highs today. These two have the highest StockCharts Technical Rank (SCTR) of the group and are clearly the strongest of the pack. There are also a few interesting chart patterns at work and today we will look at Delta and SouthWest. The first chart shows DAL surging from October to January and then correcting with a falling channel into July. DAL broke out of channel in August and showed improved relative strength as the SCTR moved back above 70. The stock is currently above the 50-day and 200-day moving averages, and is challenging the August-September highs.
The second chart shows LUV breaking a trend line with a strong advance in July-August. The stock then consolidated with a triangle into October and broke the upper trend line with a surge the last two days. This move also put LUV back above its 200-day moving average. The StockCharts Technical Rank (SCTR) improved in August and has been largely above 50 the last two months.
Here are some other airline stocks you might want to check out.
$DJUSAR,JETS,LUV,AAL,ALGT,SAVE,DAL,ALK,ALGT,HA,UAL
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--Arthur Hill CMT
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