Three different support lines meet at this price point for Southwest. A horizontal Channel, a down sloping channel, and a falling wedge. This seems very bullish, and a trend reversal might be imminent.
If all goes well, this should get to $39-40 in a matter of weeks, and after a little consolidation might continue towards the horizontal channel resistance at about $65.
I will not be surprised if the stock gaps up Monday.
If all goes well, this should get to $39-40 in a matter of weeks, and after a little consolidation might continue towards the horizontal channel resistance at about $65.
I will not be surprised if the stock gaps up Monday.