Possible Bullish Inside Day Candle Pattern Detected for Southwest Airlines (NYSE:LUV)
SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Southwest Airlines (NYSE:LUV) based on the price action in the company's shares. Today's price range of $41.42 and $42.24 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Traders and investors interested in shares of Southwest Airlines may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.
In the past 52 weeks, Southwest Airlines share prices have been bracketed by a low of $31.36 and a high of $51.34 and are now at $42.14, 34% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.4% while the 200-day MA has risen 0.4%.
Southwest Airlines Co. is a domestic airline that provides primarily short-haul, high-frequency, point-to-point service. The Company offers flights throughout the United States.
Potential upside of 26.4% exists for Southwest Airlines, based on a current level of $42.14 and analysts' average consensus price target of $53.29. Southwest Airlines shares should encounter resistance at the 50-day moving average (MA) of $44.17 and support at its 200-day MA of $41.68.
SmarTrend is monitoring the recent change of momentum in Southwest Airlines. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Southwest Airlines in search of a potential trend change.
Keywords: bullish inside day candle Southwest Airlines