Chart Of The Day: SkyWest – Flying High To An All Time High


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  • 100% technical buy signals
  • 6 new highs and up 6.32% in the last month
  • 149.81+ Weighted Alpha
  • The Chart of the Day belongs to the regional airline SkyWest (SKYW). I found the stock by using Barchart’s powerful screening functions to find stocks with the highest technical buy signals, highest Weighted Alpha, superior current momentum and having a Trend Seeker buy signal then used the Flipchart feature to review the charts for consistent price appreciation. Since the Trend Seeker signaled a buy on 1/ 24 the stock gained 30.97%. SKYW Price vs Daily Moving  Averages
    SkyWest, Inc., through its subsidiaries, engages in the operation of a regional airline in the United States. It operates through two segments, SkyWest Airlines and SWC; and SkyWest Leasing. The company is also involved in leasing regional jet aircraft and spare engines to third parties; and provision of on-demand charter, airport customer, and ground handling services. As of December 31, 2023, its fleet consisted of 603 aircraft; and provided scheduled passenger and air freight services with approximately 1,850 total daily departures to various destinations in the United States, Canada, and Mexico. SkyWest, Inc. was incorporated in 1972 and is headquartered in Saint George, Utah.Barchart’s Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 20 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report.
    Barchart Technical Indicators:

  • 100% technical buy signals
  • 149.81+ Weighted Alpha
  • 194.84% gain in the last year
  • Trend Seeker buy signal
  • Above its 20, 50 and 100 day moving averages
  • 6 new highs and up 6.32% in the last month
  • Relative Strength Index 64.55%
  • Technical support level at $69.85
  • Recently traded at $71.38 with 50 day moving average of $65.72
  • Fundamental Factors:

  • Market Cap $2.74 billion
  • P/E 78.26
  • Revenue expected to increase 15.10% this year and another 8.10% next year
  • Earnings estimated to increase 740.30% this year and an additional 16.80% next year and continue to compound at an annual rate of 15.21% for the next 5 years
  • Analysts and Investor Sentiment — I don’t buy stocks because everyone else is buying but I do realize that if major firms and investors are dumping a stock it’s hard to make money swimming against the tide:

  • Wall Street analysts have 2 strong buy,2 buy  and 2 hold recommendations in place on the stock
  • Analysts price targets are between $70 and $86 with a consensus of $78 for a 9% gain
  • Value Line rated the stock its highest rating of 1
  • MorningStar gives the stock an  above average 4 star rating with a Fair Value estimate of $77.57
  • 7,780 investors monitor the stock on Seeking Alpha
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