Long Position on SKYW @ $44.50 on 8/3/2023 (Momentum)

Sky West, Inc. (SKYW) engages in the provision of scheduled passenger services in the United States of America, Canada, Mexico and the Caribbean. 

It operates through the following two segments: SkyWest Airlines and SkyWest Leasing.

The SkyWest Airlines segment provides all other revenue and operating expenses.

The SkyWest Leasing segment includes revenue attributed from ownership cost earned under the applicable cost and fixed-fee flying contracts. 

Shares have formed a bullish "cup and handle" following the company's latest quarterly report. On July 27th, SKYW reported earnings of $0.35 per share on revenue of $725.64 million for the second quarter ended June 2023. The consensus estimate was a loss of $0.46 per share on revenue of $717.66 million. Higher share prices are expected. 

Entry Point: $44.50

Stop Loss: $42.00

Trading Range: $14.76 to $45.97

Target Price: $49.00

Position closed on 8/27/2023 at price of $42.00 with a -5.62% loss in 24 days.

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