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Southwest Air (LUV) Breaks Through Support at $53.62

By Nick Russo

Shares of Southwest Air (NYSE:LUV) have bearishly opened below the pivot of $54.09 today and have reached the first support level of $53.62. Analysts will be watching for a cross of the next downside pivot targets of $53.23 and $52.37.

Southwest Air has overhead space with shares priced $53.43, or 22.4% below the average consensus analyst price target of $68.87. 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.

In the past 52 weeks, shares of Southwest Air have traded between a low of $35.42 and a high of $64.39 and are now at $53.43, which is 51% above that low price. Over the last five market days, 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 July 21st, 2017 by issuing a Downtrend alert when the shares were trading at $60.20. Since that call, shares of Southwest Air have fallen 10.3%. 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