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After Yesterday's Rally of 2.64% Shares Could Potentially Pullback

By James Quinn

Southwest Airlines (NYSE:LUV) traded in a range yesterday that spanned from a low of $56.30 to a high of $57.85. Yesterday, the shares gained 2.6%, which took the trading range above the 3-day high of $57.22 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 Airlines share prices have moved between a 52-week high of $59.68 and a 52-week low of $31.36 and are now trading 84% above that low price at $57.82 per share. Over the past week, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 0.4%.

SmarTrend is tracking the current trend status for Southwest Airlines and will alert subscribers who have LUV in their portfolio or watchlist when shares have changed trend direction.

Keywords: rebounders Southwest Airlines

Ticker(s): LUV