LUV hit MA200 on 1D chartLUV hit moving average 200 yesterday. This moving average is many times good indicator for support and resistance. In past we can see that it few times respected this moving average.
Tommorow we will know earnings for last quarter of 2019 and this most of the times move the price by 2% and more between closing and opening price.
My setup will be take profit on 55,38. Opening price could be even higher than 55,38, so it will close my trade on opening price. Stop-loss on 53,12. Of course when it will open in -4,5%, I will be in loss - 4,5%, but it can save me if opening price will be similar to closing and then it will fall.
We will see what will happen. This trade is very risky and these are just my thoughts, so don’t take this as a financial advice.
S1OU34 trade ideas
Is Southwest Airlines a Hidden Gem?This is my first TradingView video, hope you guys enjoy! Be sure to leave a like, follow, and comment!
Southwest Airlines is a potential gem in this market as trade wars with China escalate. As Boeing ramps up production of their Max jets, Southwest also ramps up their flights as they are a primary user of the Boeing Max jets. Southwest did beat their earnings, however fell a little short on revenue, but if this is any indication towards Q3 earnings, I would feel bullish as these Boeing jets become more available. Southwest is also increasing their Hawaiian travel routes so this is great fundamental news for the airline!
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$LUV Southwest Airways share price still in turbulence. Airlines have had a tough time in the last 6 months, Government shutdowns, weather events, Boeing crashes, economic uncertainty and Brexit dilemmas have all placed the industry in a difficult position. Delta and UAL have both provided much more optimism in the last week, so we see opportunity to enter LUV before earnings than could prove to be much better than expected.
Long LUV against recent lowThis 120m chart of LUV shows price action since the stock's December 2017 high. Southwest spent the entirety of 2018 in what appears to be a "complex correction" in Elliott Wave terms. The corrective sequence, labeled W-X-Y, is comprised of two simple A-B-C corrections connected by an X-Wave. Price was largely contained within a parallel trend channel until the final throw-over of Wave C/Y on diverging momentum. The subsequent rally off of 44 has broken above the prior swing high at Wave B as well as the midpoint of the trend channel, suggesting that the correction is complete.
We're looking for LUV to form a higher-low at current Fibonacci support levels before rallying back up to and through the 60 level. The ongoing sequence can be labeled as either a three wave correction (A-B-C) or the start of a new bullish impulse (1-2-3). Either way, we expect higher prices in coming weeks. This pattern could also be labeled an upside-down head-and-shoulders in non-Elliott Wave terms. Initiating a long position at market against the 44 low. Immediate price target is 60 with extensions to 65 and 72.50.