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SmarTrend Watching for Potential Rebound in Shares of Southwest Air After 5.03% Loss

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. Over the past week, the 200-day moving average (MA) has gone down 0.8% while the 50-day MA has declined 3.4%.

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