Skywest SKYW Technical Analysis

October 14, 2021, 06:30 am ET, BY Momei- Contributor, Stock Traders Daily| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

This proprietary methodology is designed to optimize trading in Skywest (NASDAQ: SKYW) and establish prudent risk controls.

Warning:

This is a static report, the data below was valid at the time of the publication, but support and resistance levels for SKYW change over time, so the report should be updated regularly.  Real Time updates are provided to subscribers.  Unlimited Real Time Reports.

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Instructions:

The rules that govern the data in this report are the rules of Technical Analysis.  For example, if SKYW is testing support buy signals surface, and resistance is the target.  Conversely, if resistance is being tested, that is a sign to control risk or short, and support would be the downside target accordingly.  In each case, the trigger point is designed to be both an ideal place to enter a position (avoid trading in the middle of a trading channel), and it acts as a level of risk control too.

Swing Trades, Day Trades, and Longer term Trading Plans:

This data is refined to differentiate trading plans for Day Trading, Swing Trading, and Long Term Investing plans for SKYW too.  All of these are offered below the Summary Table.

Longer Term Trading Plans for SKYW

• Buy SKYW slightly over 49.74 target 58.46 stop loss @ 49.6 Details

The technical summary data tells us to buy SKYW near 49.74 with an upside target of 58.46. This data also tells us to set a stop loss @ 49.6 to protect against excessive loss in case the stock begins to move against the trade. 49.74 is the first level of support below 49.75 , and by rule, any test of support is a buy signal. In this case, support 49.74 is being tested, a buy signal would exist.

• Short SKYW under 58.46, target 49.74, stop loss @ 58.63 Details

The technical summary data is suggesting a short of SKYW as it gets near 58.46 with a downside target of 49.74. We should have a stop loss in place at 58.63though. 58.46 is the first level of resistance above 49.75, and by rule, any test of resistance is a short signal. In this case, if resistance 58.46 is being tested, a short signal would exist.

Swing Trading Plans for SKYW

• Buy SKYW slightly over 50.15, target 52.00, Stop Loss @ 50.01 Details

If 50.15 begins to break higher, the technical summary data tells us to buy SKYW just slightly over 50.15, with an upside target of 52.00. The data also tells us to set a stop loss @ 50.01 in case the stock turns against the trade. 50.15 is the first level of resistance above 49.75, and by rule, any break above resistance is a buy signal. In this case, 50.15, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short SKYW near 50.15, target 49.74, Stop Loss @ 50.29. Details

The technical summary data is suggesting a short of SKYW if it tests 50.15 with a downside target of 49.74. We should have a stop loss in place at 50.29 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 50.15, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for SKYW

• Buy SKYW slightly over 50.15, target 50.93, Stop Loss @ 50.03 Details

If 50.15 begins to break higher, the technical summary data tells us to buy SKYW just slightly over 50.15, with an upside target of 50.93. The data also tells us to set a stop loss @ 50.03 in case the stock turns against the trade. 50.15 is the first level of resistance above 49.75, and by rule, any break above resistance is a buy signal. In this case, 50.15, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short SKYW near 50.15, target 49.74, Stop Loss @ 50.27. Details

The technical summary data is suggesting a short of SKYW if it tests 50.15 with a downside target of 49.74. We should have a stop loss in place at 50.27 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 50.15, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

SKYW Ratings for October 14:

Term →	Near	Mid	Long
Rating	Strong	Strong	Strong
P1	0	0	41.54
P2	49.68	50.15	49.74
P3	50.93	52.00	58.46

Support and Resistance Plot Chart for SKYW

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