Short LCI Setup on SKYW

Technical Analysis on SKYW (Sky West Airlines)

Why are we shorting SKYW?

1. We can see that we are within our overbought condition within the average pivot cycle movement.

2. We are at a Major Resistance level with: Supporting Fibonacci Retracement, Consolidation of price movement, and have started to create lower lows.

3. Volume is exhausted indicating that there is no more demand to drive prices higher. Volatility is also low supporting price consolidation.

See Trade Management Details Below.

Entry Management

We will be looking to enter "Short" if prices break 15.75 within the next 3 trading days. We are expecting a move to hit our initial profit target and move to a sideways price movement.

Initial Stop Level

Short Entry Stop: 16.62

Profit Target Level

Initial Target:          14.54
Primary Target:      13.24
Extended Target:     11.50

If you have additional questions then please feel free to email info@lcinvestmentanalytics.com

 

Sincerely,

Logan Connors

LC Investment Analytics

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