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After Yesterday's Rally of 2.30% Shares Could Potentially Pullback

By David Diaz

Southwest Air (NYSE:LUV) traded in a range yesterday that spanned from a low of $51.95 to a high of $53.10. Yesterday, the shares gained 2.3%, which took the trading range above the 3-day high of $52.55 on volume of 1.8 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

Southwest Air share prices have moved between a 52-week high of $66.98 and a 52-week low of $47.10 and are now trading 13% above that low price at $52.99 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.9% while the 200-day MA has slid 0.4%.

SmarTrend recommended that its subscribers protect gains by selling shares of Southwest Air on October 10th, 2018 by issuing a Downtrend alert when the shares were trading at $58.13. Since that call, shares of Southwest Air have fallen 10.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders southwest air

Ticker(s): LUV