$LUV is showing a great accumulation pattern, right above an older 'Key earnings support' level. We can long at market open risking a drop to 35.40, and aiming for a retest of 39.97 in the intermediate term. This is a good way of leveraging a potential retracement in crude oil to be seen soon, possibly after the next OPEC meeting shows leaders fail to reach an...
Head and shoulders shown in $LUV weekly chart
Southwest airlines made a news today so thought take a peek. It's gone. For next few weeks to months LUV will have choppy trade. Those who are good in options strategies like butterfly, condor etc (some one who is pro and can advantages of choppy sidewise trade) make a lots of money for sure. Once they break the black line after choppy noisy trade look for the...
Airlines suffering now from high oil prices. Bearish pattern in place.
Right before earnings I'm going to be following this stock. I need to look more into the industries momentum, but this stock is looking great. I closed a earlier position and looking to re-open soon. I'd say look for the 40 mark maybe a little higher.
Wanted to make a more detailed chart
(Note: DOWT is no longer in a bear market after rallying the last two weeks) 2015 was suppose to be just another year of the epic bull market created by reckless central banking policies. Some Wall Street estimates for the S&P 500 were as high as 2,300. Me? I projected a contraction to 1,810 in mid-January. Whether or not the SPX will reach my target within the...
With the drop in oil prices, $JETS, the new ETF that holds airline companies like Delta ($DAL), American Airlines ($AAL) and southwest airlines company ($LUV) had a very nice rally during the month of July. The $ETF rallied all the way up to the 88.6 Fib level to complete a bearish Bat pattern and declined from there. The pattern's targets are 23.5$ and 23$...
$LUV bottomed out in early July, now has been on a steady bullish run. Expectedly It met with some resistance at $37.5 level (and closed below it today). Overall, it has formed a domed bottom, and likely will form a "cup-and-handle" pattern. I expect this stock to recover to the mid $40 range in a few months.
After breaking though the daily trendline, recent support at ~38, and closing below the 50/200 SMA on the weekly and daily respectively. I will be watching the nearest daily support level for signs of strength or weakness. Any closes below this level could see a much greater pullback as this is a more significant support on the weekly chart. Any...
Southwest Airlines Co (NYSE:LUV) has a topping tail on the daily from Tuesday. In addition, today it initially shot higher, testing the recent highs from Tuesday, then sold off sharply. This created another tail on the daily chart. This shows institutional sellers are meeting retail buyers. Considering the stock is up over 40% in less than a month, the probability...
Finally made it over trend resistance and into what I hope is a new bull session. The technicals aren't perfect, but history doesn't care. Still up in all time highs with more room to grow, if patterns stick I'll have more option money in June. I think it's possible we could drop back into the previous zone, the volume is not yet there and I'm interested in what...