mtphan20

LUV is showing strength amongst it's peers

Long
NYSE:LUV   Southwest Airlines Company
LUV is not selling off at the 200 sma. It is finding buyers and price action shows me that it is gaining strength while other airlines are struggling. This along with great fundamentals and recent news of EXPANDING into O'hare in Chicago and George Bush airport in Houston tells me they are taking this opportunity take market share from AA and UAH who are currently begging for gov't assistance. I've charted in the possible resistance (purple box) areas and supports (yellow box). Also the red trend lines can also act as resistance and support. I've plotted possible take profit areas and a break down under the diagonal line it is currently sitting on/around could be a sell signal. Hidden bullish divergence is also showing on the daily MACD. I strongly believe LUV will reach all time highs within time. If it breaks $67 my long term target would be around $110. PEOPLE WILL ALWAYS NEED TO FLY! Quality of life will outweigh fear.

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