LUV signaled back on 6/08 and the target is $40.59NYSE:LUV
Can you feel the LUV? I do! I'm in on this one already and I'm looking to add more options on any dips.
S1OU34 trade ideas
LUV before earningsSouthwest has continued to fly everday during this pandemic. On some flights carry less than 10 people at one time. Although the service has been limited the flights are starting to fill up slowly and surely and with the 737 max test flights starting again, that would bring a large portion of their fleet into service.
Multi-theory and TA only Bull argument for LUV.First and foremost, LUV appears to be forming an inverted H&S. Target breakout of IHS = $47.70 (First level of resistance). Once breakout confirmed, Target 2 = $52-57.
The level of $47 has been solid support over the past months prior to the price finally dipping below the support in Feb.
You can see on May 15th, LUV was able to breakout to the top side of it's descending wedge. Since then, a strong impulse wave brought the action back to shoulder level.
Watch for a breakout above $41 before adding longs.
OTHER TECHNICALS-
RSI is trending up with bullish divergence.
Volume profile shows significant interest in the current price range compared to the previous range.
LUVBuyers come in and broke trend line,Due to US states coming back on line despite the second wave of CV-19, expect increase of more flights which will require more services and with 04 July celebrations occurring with in the week more flights required for the Long weekend Celebrations
$LUV Southwest Airlines Reversal
Possible long entry at $33
Upside target $37
50ma has held as support.
Upgrades today may help.
MACD supporting push to fill gapHere's a look at LUV's gap that will be filled. MACD supporting the downward movement. Testing current support. For those playing 4th of July, this might be a good opportunity to scoop up the potential gap-fill (which may equate to the lower Bollinger band test). Noting "short" for short-term (1-3 days) but I'm long on the Bollinger rules.
$LUV - Squeeze Trigger soon? I am biased to the short side. But another long side break may not have a big run up, the squeeze defines there is no resistance to the top.
LUV - SouthwestFollowing the channel down smoothly and having the sudden spike in price is being followed by a move back down. From the high of the short bear rally price has already retraced 50% of its gains. Making its way towards the .382 value to make the next test on that range. Looking to see for a potential low area underneath for target range
$LUV Southwest to $44 range
domestic air travel is on the increase as folks have had enough of the lock-down
Air travel will not get back to old levels for some time but any improvement will stimulate some positive sentiment.
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Long LUV Change of directionLong on South West finally waking key directional changes. Time to rally
$LUV UPDATE - TA WORKSUpdating the chart as a cheers to my buddy who's killing this trade. Cheers to Kyle!!
Sharing a LUV Chart with a friendSome example targets & trend-lines are shown. Take proper precautions.
LUV Airlines on a come back.Hello,
Southwest Airlines said Tuesday that new bookings are now outpacing cancellations, a turning point for Southwest Airlines as seen on this chart as a reversal. I would wait for a correction before going long on this trade.
Details on the chart!
Good Luck
Cheers!
