$LUV - Elliot Wave Theory- Wave 5 Push to Price Target of $42+
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Welcome to Tony's Picks
I enjoy analyzing charts and have come across this interesting idea that I would like to share for discussion.
After our March - May crash I spot a quick trend to completion followed by a typical zig zag (5-3-5) counter trend. If this idea proves true I see us continue another trendy move and enter a long wave 5 in orange and wave 3 in black. Seems like this could be a long wide wave as airlines try their best to recover from our recent lows. With talk of stimulus and airline bailout plus southwest having a notoriously conservative balance sheet I see Southwest getting back to normal quicker than their competition. Personally will be looking to DCA over the next couple of months.
***At time of writing this post I DO own shares of Southwest ($LUV)***
Curious if there are any thoughts and/or comments, I read all feedback!
Thank you and if this content was useful to you please follow!
Click to my profile to see all my other posts for more free stock analysis.
(Disclaimer: I am not a financial advisor and this is not investment advice, this is my opinion only and is solely for entertainment purposes)
Welcome to Tony's Picks
I enjoy analyzing charts and have come across this interesting idea that I would like to share for discussion.
After our March - May crash I spot a quick trend to completion followed by a typical zig zag (5-3-5) counter trend. If this idea proves true I see us continue another trendy move and enter a long wave 5 in orange and wave 3 in black. Seems like this could be a long wide wave as airlines try their best to recover from our recent lows. With talk of stimulus and airline bailout plus southwest having a notoriously conservative balance sheet I see Southwest getting back to normal quicker than their competition. Personally will be looking to DCA over the next couple of months.
***At time of writing this post I DO own shares of Southwest ($LUV)***
Curious if there are any thoughts and/or comments, I read all feedback!
Thank you and if this content was useful to you please follow!
Click to my profile to see all my other posts for more free stock analysis.
(Disclaimer: I am not a financial advisor and this is not investment advice, this is my opinion only and is solely for entertainment purposes)