Several major airlines have seen terrific multi-year bull runs, but continue to be wildly extended on all longer-term timeframes. The same can be said of other major transports, such as large rails CP UNP.
And within airlines, many of them have similar daily charts to ALK, which we can see putting in a mini-bear flag below after some recent weakness.
I view these plays as prospective shorts, with stops above recent highs, including DAL HA UAL, among others.
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