LUV: Great accumulation at key level

Sep 21, 2016

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 agreement, or if they simply 'freeze' production at record levels (which is the same as sitting on their hands, and maintaining the status quo).

Feel free to comment. Also, if interested in learning more about my private tuition and/or trading signals service, message me privately.

Good luck,

Ivan Labrie.

Sep 23, 2016

Note

Looks safe.

Sep 27, 2016

Note

1.08R profit here. Hold this one, looks really solid. You can close half before Yellen, or move stops up to entry price.

Sep 28, 2016

Note

Closed half of LUV @ 38.64

Oct 3, 2016

Trade closed manually

Oct 15, 2016

Note

We can get back in on dips here.

Oct 19, 2016

Note

Nice move.

Dec 29, 2016

Trade closed: target reached