Although the stock looks like it's taking a beating, it's actually trending up still, sticking with this one , looks to be in a low with upside potential in the next 2 week timeframe.
LUV has broken long entry level recently only to pull back below entry level.
Support can be found at handle low (HL and at mid cup (MC)
Not a recommendation
Been in this stock for a while now, I expect similar movements from my DAL prediction as airlines have yet to recover from COVID crash. Very close to hitting my $56.00 target, although it can potentially shoot higher. Hey ! Profits are profits, never get Greedy lol !
Consolidation pattern following a strong up trend. Hammer on the daily breaking outside of consolidation is a strong bullish indicator here that consolidation will break to the upside.
***Analyst Based on analysts offering 12 month price targets for LUV in the last 3 months. The average
price target is $56.5 with a high estimate of $65 and a low estimate of $50
***So far this is the worst airline for insider selling !!!! Zero buying
Insider Ownership Percentage: 0.28%
Insider Buying (Last 12 Months): $0.00
Insider Selling (Last 12...
LUV has been following this channel as it returns to pre-covid levels
It is now at support of the channel with earnings in 2 days, expected to beat
Volume profile demonstrates an area of resistance at 55
RSI is oversold
Momentum demonstrates a bottom
Buyers > Sellers on daily volume
So we have a really interesting double pattern, I think the short term is showing strength with a possible ascending triangle that may be bullish. We just came into what I am calling the COVID GAP as airlines dumped after news of the virus. Since the bottom of that tho, we have a rising wedge farther out that could quickly take back any gains from the bullish...
