LUV trade ideas
LUV breaks pre-COVID weekly resistance
NYSE:LUV has recently broken through weekly pre-COVID resistance. With travel becoming a focus with a world trying to emerge from a pandemic, look for airline stocks to benefit, at least for the medium term. I would look for a retest and possible bounce off that previous resistance level. Wait for the retest, though, and see how that price interacts.
For reference, the AMEX:JETS ETF is published.
Many of the other airlines are just bumping into their pre-COVID support levels. If they break though, that could be a long trade. If you're looking for an outperformer, though, look for a place to safely jump into NYSE:SAVE .
LUV Still In An UptrendAlthough the stock looks like it's taking a beating, it's actually trending up still, sticking with this one , looks to be in a low with upside potential in the next 2 week timeframe.
Cup and HandleLUV has broken long entry level recently only to pull back below entry level.
Support can be found at handle low (HL and at mid cup (MC)
Not a recommendation
Southwest Airlines going to the PRE-COVID Target area $57.00Been in this stock for a while now, I expect similar movements from my DAL prediction as airlines have yet to recover from COVID crash. Very close to hitting my $56.00 target, although it can potentially shoot higher. Hey ! Profits are profits, never get Greedy lol !
$LUV Upwards moveAfter some really strong consolidation LUV is a low risk play to finish its wave 3. Its making a nice move nd currently wedged to break upwards.
LUV over 52.16Consolidation pattern following a strong up trend. Hammer on the daily breaking outside of consolidation is a strong bullish indicator here that consolidation will break to the upside.
South west Air line***Analyst Based on analysts offering 12 month price targets for LUV in the last 3 months. The average
price target is $56.5 with a high estimate of $65 and a low estimate of $50
***So far this is the worst airline for insider selling !!!! Zero buying
Insider Ownership Percentage: 0.28%
Insider Buying (Last 12 Months): $0.00
Insider Selling (Last 12 Months): $36,134,970.44
***Strong institutional ownership is an indication that hedge funds, large money managers
and endowments believe a company will outperform the market over the long term.
Well Institutional Ownership Percentage: 74.00% is the highest of all Airline we covered so far.
74% of South West air line shares are owned by institutional investors
73.1% of Alaska Air Group shares are owned by institutional investors
-60.9% of United Airlines shares are owned by institutional investors
-59.5% of Delta Air Lines shares are owned by institutional investors
--44.4% of American Airlines Group shares are owned by institutional investors
*** Good ration of Assets to liabilities.
Period Ending: Dec 31, 2020 Dec 31, 2019 Dec 31, 2018 Dec 31, 2017
Total Assets 34588 25895 26243 25110
Total Liabilities 25712 16063 16390 15469
Total Equity 8876 9832 9853 9641
LUV - Long over 45, Price target 55, stop loss 44LUV has been following this channel as it returns to pre-covid levels
It is now at support of the channel with earnings in 2 days, expected to beat
Volume profile demonstrates an area of resistance at 55
RSI is oversold
Momentum demonstrates a bottom
Buyers > Sellers on daily volume
LUV It or Hate It Weekly - BearishHere is the bearish only view of the rising wedge that was pointed out, in my first daily chart.
LUV It or Hate It So we have a really interesting double pattern, I think the short term is showing strength with a possible ascending triangle that may be bullish. We just came into what I am calling the COVID GAP as airlines dumped after news of the virus. Since the bottom of that tho, we have a rising wedge farther out that could quickly take back any gains from the bullish pattern. I will likely try to play options on both to try to collect highs and lows of each run, short term call- long term put if confirmed. Not to mention earnings around the corner makes it another unknown factor. Stay safe everyone!
Key:
Dotted Red: Rising Wedge formation
Yellow Solid: Ascending Triangle formation
Solid Red: Major Support
Covid GAP: Possible next leg up if it breaks the bearish pattern.
$LUV DailyInside days forming symetrical triangle. Break above could move this up to $52 area, break below leads to volume gap back down to $40 area
ascending triangle, bottom of channeldeclining volume, approaching macd buy signal on 4hr. moderately oversold.
above 50 is where the ~party~ starts, as seen on visible range (volume profile).
