Southwest Airlines: LUV Is in the Air

Southwest Airlines (LUV) looks like it is tracing out a large bullish triangle formation since January. There are higher lows in January and March and equal highs at the end of February and May, which is what you want to see in an ascending triangle formation.  Action Alerts PLUS holding LUV is above the popular moving averages and there appears to be strong accumulation since August.

Let's check the indicators and charts and see what kind of flight plan we can file. The last time we looked at LUV was April 28 when we concluded, "With LUV in the middle of an $8 range we could go either way. A close below $52 would be bearish. A close above $60 would be bullish. Keep checking the departure boards for the latest updates."...221 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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