SKYW - SkyWest Inc. $59.50 +1.50 (+2.38)

Believe it or not there are some winners out there in the market and one of them is SkyWest. The company has become a beneficiary of all of the problems experienced by the major airlines, especially United Airlines (UAL). SkyWest is a major partner of both Delta Air Lines (DAL) and UAL, but so far it seems to have avoided the negative public sentiment that surrounds these major carriers. The company is expected to maintain steady growth, which has led the stock to establish another new all-time high today of $59.50. On November 8, SkyWest announced a 2:1 split and the stock seems to be in the middle of a classic split run. The split will be made payable on December 15. Currently, the stock has no overhead resistance and offers momentum investors one of very few options in this market. The MACD appears to have offered a false sell signal earlier this week and could be poised to turn positive with another advance tomorrow. Furthermore, Money Flow and OBV are very strong. Additionally, the RSI is not issuing an overbought signal, so there could be some gas left in this rally. The 20-DMA, just slightly below $56.00, has provided excellent support throughout this advance. Therefore, we are setting our initial stop right at this support level. If we are not stopped, we will exit this position just before the split becomes payable.

Picked on November 30th @ $59.50 Change since picked +0.00