Southwest Airlines, helluva airline stock has taken a massive hit during this WideSpread Bear Market. Just recently LUV has seen further selloff to levels seen at the COVID Crash Bottom.
Major Support is definitely coming in here, and Demand is heavy. Buyers are and will step in at these prices certainly as the company is not failing... yet lol.
With this in mind, we can be assured, some support is definitely in place at these levels for LUV.
Now to the Real Technicals...
- Bit of a Diamond Pattern forming, and it is breaking toward the upside.
- Retested the 9 ema cloud just today, resulting in a solid healthy pullback following this zone break upwards.
- TTM_Squeeze signaling Bearish Momentum Fading on the Daily, Weekly, and coming Monthly.
- Candle over Candle, with the retest 10/17 (today)
- Relatively strong in the markets past few weeks, discluding today.
- Could see a little bit of an inverse H&S action if you look close enough!
Cons :
Earnings 10/27 can get in the way of this Technicals-Focused Swing Trade
If we dont get break above, this could be printing a clear Bear flag... Otherwise, a good play to the downside!!
Thesis :
A break of 33.4 area could be explosive up to the previous zone area of the higher $30s
Long > 33.4 line break
Options Swing far out could be the play here or shares.
**Just for putting on your radar, I think the setup is nice!**
Major Support is definitely coming in here, and Demand is heavy. Buyers are and will step in at these prices certainly as the company is not failing... yet lol.
With this in mind, we can be assured, some support is definitely in place at these levels for LUV.
Now to the Real Technicals...
- Bit of a Diamond Pattern forming, and it is breaking toward the upside.
- Retested the 9 ema cloud just today, resulting in a solid healthy pullback following this zone break upwards.
- TTM_Squeeze signaling Bearish Momentum Fading on the Daily, Weekly, and coming Monthly.
- Candle over Candle, with the retest 10/17 (today)
- Relatively strong in the markets past few weeks, discluding today.
- Could see a little bit of an inverse H&S action if you look close enough!
Cons :
Earnings 10/27 can get in the way of this Technicals-Focused Swing Trade
If we dont get break above, this could be printing a clear Bear flag... Otherwise, a good play to the downside!!
Thesis :
A break of 33.4 area could be explosive up to the previous zone area of the higher $30s
Long > 33.4 line break
Options Swing far out could be the play here or shares.
**Just for putting on your radar, I think the setup is nice!**
Trade active:
Scaling out of Swing here! Up $5/share! Quite a trade here!
Trade closed: target reached:
All out! What a play