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After Yesterday's Rally of 2.90% Shares Could Potentially Pullback

By David Diaz

Southwest Air (NYSE:LUV) traded in a range yesterday that spanned from a low of $51.59 to a high of $53.24. Yesterday, the shares gained 2.9%, which took the trading range above the 3-day high of $52.74 on volume of 2.7 million shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, Southwest Air share prices have been bracketed by a low of $35.42 and a high of $66.99 and are now at $53.12, 50% above that low price. 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 recommended that its subscribers protect gains by selling shares of Southwest Air on March 28th, 2018 by issuing a Downtrend alert when the shares were trading at $56.39. Since that call, shares of Southwest Air have fallen 8.3%. 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