Bearish Moving Average Cross by Southwest Airlines (LUV)
Southwest Airlines (NYSE:LUV) shares have crossed bearishly below their 10-day moving average of $41.44 on a volume of 14.6 million shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
Over the past year, Southwest Airlines has traded in a range of $31.36 to $51.34 and is now at $37.54, 20% above that low. The 200-day and 50-day moving averages have moved 0.39% higher and 0.35% higher over the past week, respectively.
SmarTrend recommended that subscribers consider buying shares of Southwest Airlines on October 3rd, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $39.22. Since that recommendation, shares of Southwest Airlines have risen 7.0%. We continue to monitor LUV for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.
Keywords: moving crosses Southwest Airlines