$LUV | Southwest Airlines: Double Bottom - Watch For A BreakoutTextbook double bottom. Bullish confirmation with break of neckline.
I analyzed all of the fundamentals. great balance sheet.
S1OU34 trade ideas
LUV DAILY LONGSee chart annotations for entry.
Seasonax detrended data shows this stock is typically strong until the end of the year.
Could be dependent on US election result however.
Wide stop to account for several attempts to break through 40 and 200 MA.
ALT
200 MA is down and if price can't break through it this target will never be reached.
Position size 1% of account as usual.
09/29/2020 LUVLooking to add a LUV position after it puts in a wave 2. Will be adding around the 50-61.8 retrace.
$LUV - Green Area and Red Area around MA50 Positive trending line located below.
The challenge is 42.35
A nice viewpoint for all holders (Long and Short)
Not for any Advise
Just an Idea,
LUV LONG w/ 1 day option play as well. 1. MONTHLY: BUY ZONE. Support at $$40. Next level is $44 and after that would be $46, then $54. Therefore, BUY ZONE possibly big move to upside.
2. DAILY: BUY ZONE with next resistance b/w $44-$46.
Trade idea 9/18/20:
SHORT, UNHEDGED ATM STRADDLE: Will sell 1 call and 1 put ATM. Historically, for purchased thursday and sold next day (friday), this has won 8 of last 9 (about 90%) w/ about 50% avg. return. Analysis above shows we are expecting LUV to move BULLISH so it should make the straddle profitable this week as well.
$LUV - Very challenging area (look at the circle)The real test is MA200
Positive local channel (Local support as well).
Not for any advise
just an Idea,
$LUV potential long term value playThe airlines industry seems to have found a bottom over the past couple of months while the general market has rallied.
It may be a good idea to start accumulating positions in some of these potential long term value plays before a possible sector rotation into the airlines industry.
Here $LUV broke out of its falling wedge and the pullback gave us:
1) Support of the trendline
2) A higher low
3) Reclamation of the 8EMA and 21 EMA
If it can clear and hold the 200 EMA I will start scaling into medium and long term calls.
Another good indication would be similar plays in other airline stocks such as $JETS, $DAL, $UAL, $AAL et al.
Southwest Airlines ready for the next move?Nice running flag forming with consolidation within. Will keep an eye on it and time the entry on the lower time frames if a setup present itself.
What I want to see on the lower time frame are reversal patterns like H1 double top / wedge / H&S etc.
LUV Chart pattern bottoming The airlines have been destroyed by covid 19. PASSENGER traffic is increasing and stock price recover in recovery is inevitable. For all chart users look at thei formation and tell me I am wrong.
$LUV airline breakout setupairline stocks are setting up in bullflags if we see a breakout we will have a huge rally
$LUV Southwest Airlines Chart ReviewVolume remains very low, a spike in volume will signal a change of momentum.
50ma may now act as support.
Potential targets to Fibonacci levels.
Rallies get sold so don't get caught holding the bag.
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$LUV Southwest $40 Target
Market is hugely optimistic pre market but that can change very quickly so caution needed in all the travel stocks
Corora Airline- Southwest (LUV) BUY Airlines provide high reward but with a high risk to take advantage there are certaim combination of trading methods to provide better opportunity
Southwest(LUV) is the only airline that as of today with positive cash flow(2.96 Billion). Spirit Airlines(SAVE) is classify as a cheap convenient airline books only have -2.79 billion in debt(This can be forgiven or refinanced overnight with gov aid)
Target and stop in graph
$LUVJust messing around with a new strategy, posting in case it works.
I plan to buy at 1 and then hold until the stock reaches it's 200 MA
1. Buy 50 shares at 1 (green line) and set stop loss $1 below
2. Watch at what stock is doing at second green line, sell 1/3 possibly
3. If it reaches this area I will watch a little more closely
4. Sell my entire position/re-evaluate on what will happen once it touches the MA
$LUV - 31.2$ is a "springboard" (So far, strong support)So hopefully will not break below that level
Not for any advise
Just an Idea
ABC BullishThe stock is not to break out yet but it is very close to stop which is at 34 or below. That is the nice thing about ABC patterns
Airlines are not everyone's top pick. This I know. Almost all of the airlines are in this pattern right now so just take a look if you do not like this airlines. HA, AAL, SAVe, UAL and SKYW are in this pattern, perhaps more
Not a recommendation. I do own this stock
