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Look for Shares of Southwest Air to Potentially Rebound after Yesterday's 5.03% Sell Off

By David Diaz

Southwest Air (NYSE:LUV) traded in a range yesterday that spanned from a low of $23.90 to a high of $25.10. Yesterday, the shares fell 5.0%, which took the trading range below the 3-day low of $25.78 on volume of 13.6 million shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, Southwest Air share prices have been bracketed by a current low of $23.90 and a high of $58.83 and are now at $23.81. The 200-day and 50-day moving averages have moved 0.85% lower and 3.4% lower over the past week, respectively.

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

Keywords: rebounders southwest air

Ticker(s): LUV