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Southwest Air Falls 2.99% on Heavy Volume: Watch For Potential Rebound

By Shiri Gupta

Southwest Air (NYSE:LUV) traded in a range yesterday that spanned from a low of $51.80 to a high of $53.37. Yesterday, the shares fell 3.0%, which took the trading range below the 3-day low of $52.13 on volume of 1.2 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

Over the past year, Southwest Air has traded in a range of $47.10 to $66.98 and is now at $52.00, 10% above that low. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has declined 1%.

SmarTrend is monitoring the recent change of momentum in Southwest Air. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Southwest Air in search of a potential trend change.

Keywords: rebounders southwest air

Ticker(s): LUV