LUV: Great accumulation at key level
Updated
LUV is showing a great accumulation pattern, right above an older 'Key earnings support' level.We can long at market open risking a drop to 35.40, and aiming for a retest of 39.97 in the intermediate term.
This is a good way of leveraging a potential retracement in crude oil to be seen soon, possibly after the next OPEC meeting shows leaders fail to reach an agreement, or if they simply 'freeze' production at record levels (which is the same as sitting on their hands, and maintaining the status quo).
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Good luck,
Ivan Labrie.
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Looks safe.Comment
1.08R profit here. Hold this one, looks really solid. You can close half before Yellen, or move stops up to entry price.Comment
Closed half of LUV @ 38.64Trade closed manually
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We can get back in on dips here.Comment
Nice move.Trade closed: target reached
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