I did start a very small LUV position here ---> Target 55.24 for 10.95%
Or next add at 44.34
Well… I started a very small position here… even though I’m still pretty bearish on Airlines (Especially after having a horrible experience on a flight this week… getting cancelled twice, but I’m trying to keep that bias out of my analysis)
So small position here… and I’ll add at 44.34 if it sells off more, which personally I think it will. (Look at that shooting star)
What are your thoughts on Airlines and Cruise lines right now? I’m leaning bearish in this sector because of inflation and unfortunately I know too many people that are feeling the strain and airlines and cruise lines really require a good economy to be a booming industry - which we are far from at the moment. But, with that outlook could bring excellent opportunities a little lower.
Let me know what you guys think & GL
----- — On the far right of the chart is my Average (Grey) Current Target (Green), and Next Level to add (Red) Percentage to target is from my average.
ONLY ADD at support levels & FIB levels… labeled (most of the time) (Support=Green, Resistance=Red, Trendlines=Blue) Fib will be labeled (if any) and their colors will vary.)
I start every position with .5 - 1% of my account and build from there as needed and as possible.
I am not your financial advisor. Watch my setups first before you jump in… My trade set ups work very well and they are for my personal reference and if you decide to trade them you do so at your own risk. I will gladly answer questions to the best of my knowledge but ultimately the risk is on you. I will update targets as needed. GL and happy trading.
IF you need anything analyzed Technically just comment with the Ticker and I’ll do it as soon as possible…
I think the market turns red tomorrow should this follow it down. I like the 43s but ultimately this is a broad wedge pattern which will take it much lower in the bigger time frame. I will perhaps buy Boeing around the 200 mark for the lower high bounce I expect to see. Boeing has a nice drop coming after that.
SPYder_QQQueen_Trading
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@CJS04, I agree, and I'm looking at the larger timeframes myself right now which is why I'm so bearish on the market overall... I'm trading with caution and it's really hard to be long on anything right now. Gosh... i haven't seen a Boeing alert go off in a while... I wonder if it's still active. Thanks for your input, my friend.
CJS04
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@LadyAmalthea12, short term, this is how I see LUV, I would be short or on the side... I too am having a hard time being long anything. So soo soo much downside to things.