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Southwest Air (LUV) Breaks Through Resistance at $52.05

By David Diaz

Shares of Southwest Air (NYSE:LUV) have bullishly opened above the pivot of $51.74 today and have reached the first resistance level of $52.05. Analysts will be watching for a cross of the next upside pivot targets of $52.40 and $53.05.

Over the past year, Southwest Air has traded in a range of $35.42 to $66.99 and is now at $51.82, 46% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.4% while the 50-day MA has advanced 0.4%.

There is potential upside of 42.4% for shares of Southwest Air based on a current price of $51.82 and an average consensus analyst price target of $73.80. The stock should find initial support at its 50-day moving average (MA) of $44.17 and further support at its 200-day MA of $41.68.

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: pivot alerts southwest air

Ticker(s): LUV