LUV trade ideas
Short Southwest Airlines to the Bottom of WedgeT1: 50
Could lead to a massive breakdown into the 40's
Is Southwest Airlines a Hidden Gem?This is my first TradingView video, hope you guys enjoy! Be sure to leave a like, follow, and comment!
Southwest Airlines is a potential gem in this market as trade wars with China escalate. As Boeing ramps up production of their Max jets, Southwest also ramps up their flights as they are a primary user of the Boeing Max jets. Southwest did beat their earnings, however fell a little short on revenue, but if this is any indication towards Q3 earnings, I would feel bullish as these Boeing jets become more available. Southwest is also increasing their Hawaiian travel routes so this is great fundamental news for the airline!
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LUV Great 5% ReturnLUV has been on a horizontal trend over the past year. Great buy opportunity as it has bounced off of a strong support line. Potential return is 4-5%.
LUV approaching resistance, potential drop! LUV is approaching our first resistance where we might be seeing a drop below this level to our first resistance to our first support level. Stochastic is also approaching our first resistance level.
LUV Approaching Support, Potential Bounce!LUV is approaching support where a potential bounce to its resistance could occur.
LUV/USDPennant breakout to $66.54 end of summer ~Aug.5. Retrace to support at $58.62 area to complete Head of Inverse H&S and up to top shoulder at 1.618 extension of 76.32. Pullback to previous ATH and support level of $66.54 for retest then $~82 by Jan 31. Total move 56%.
LUV on WatchHard to miss this massive head and shoulders pattern forming. Has bounced between two chop zones, but looks weak.
May target: 48-49
$LUV Southwest Airways share price still in turbulence. Airlines have had a tough time in the last 6 months, Government shutdowns, weather events, Boeing crashes, economic uncertainty and Brexit dilemmas have all placed the industry in a difficult position. Delta and UAL have both provided much more optimism in the last week, so we see opportunity to enter LUV before earnings than could prove to be much better than expected.
LUV is appraoching support, potential bounce! LUV is approaching our first support where we might see a corresponding bounce to our first resistance. RSI is also approaching support where we might see a corresponding bounce in price.
LUV is approaching support, potential bounce! LUV is approaching our first support where we might see a corresponding bounce in price. Stochastic is also approaching support.
LUV: Getting weaker and may come down lot morePrices marked.
Apr 18th: 49 puts is my play. Will initiate tomorrow.
Don't forget to share your wealth with unfortunate people around you. You will be surprised.
LUV Approaching Support, Potential Bounce!LUV is approaching support where a potential bounce to its resistance could occur.
Long LUV against recent lowThis 120m chart of LUV shows price action since the stock's December 2017 high. Southwest spent the entirety of 2018 in what appears to be a "complex correction" in Elliott Wave terms. The corrective sequence, labeled W-X-Y, is comprised of two simple A-B-C corrections connected by an X-Wave. Price was largely contained within a parallel trend channel until the final throw-over of Wave C/Y on diverging momentum. The subsequent rally off of 44 has broken above the prior swing high at Wave B as well as the midpoint of the trend channel, suggesting that the correction is complete.
We're looking for LUV to form a higher-low at current Fibonacci support levels before rallying back up to and through the 60 level. The ongoing sequence can be labeled as either a three wave correction (A-B-C) or the start of a new bullish impulse (1-2-3). Either way, we expect higher prices in coming weeks. This pattern could also be labeled an upside-down head-and-shoulders in non-Elliott Wave terms. Initiating a long position at market against the 44 low. Immediate price target is 60 with extensions to 65 and 72.50.
Southwest Airlines a Paradise?Southwest recently started flying to Hawaii, and the stock price had a roaring January! Southwest continues to grow and the Megalodon is giving the buy sign on the technical side!
The Megalodon indicator uses an artificial intelligence, combined with data from over 500 buy setups, and over 2000 indicators to produce extremely accurate buy signals on any and all asset classes! Send me a message if you would like to try it for yourself!
