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Archive
- 4/5/2024 -
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Southwest Airlines (LUV) Technical Analysis
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| Summary:
| | Weekly :   | | Daily :
Move cursor over the icon to see details.
| | It was the negative week for the Southwest Airlines (LUV). During the week, the LUV dropped -0.85 points, or -2.91%, and closed at 28.34 on Friday, April 5, 2024. Weekly volume was 9% above average.
LUV is a member of Industrials Sector. Industrials is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See LUV long-term trend chart]
A long-term downtrend had started on April 14, 2021 at 64.75 and reached 21.91 on November 1, 2023. LUV lost 42.84 points, or 66.16%, in 133 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (17.89) is broken. A broken support is considered to be a long-term bullish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.
 Medium-term trend: [See LUV medium-term trend chart]
A medium-term uptrend had started on November 1, 2023 at 21.91 and reached 35.18 on February 22, 2024. LUV gained -13.27 points, or -60.57%, in 16 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (35.39) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. LUV may retest the broken support line. It is considered to be a resistance line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a medium-term trend.
 Weekly Technical Indicators: [See LUV weekly technical indicators chart]
Weekly technical indicators are neutral.
During the last week, weekly MACD line has moved below its signal line. Such crossover is considered a bearish signal. Use the following link to access a MACD help.
 Short-term trend: [See LUV short-term trend chart]
A short-term downtrend had started on February 22, 2024 at 35.18 and reached 27.76 on March 14, 2024. LUV lost 7.42 points, or 21.09%, in 21 days. The price is now at the 7.82% retracement level.
 Daily Technical Indicators: [See LUV daily technical indicators chart]
Daily Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with daily strongly oversold Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Williams' Percentage Range help.
The daily MACD line is below its signal line since February 29, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.
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| Daily Oscillators |
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| Weekly Oscillators |
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| Trading
Signals |
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| Sector and
Industry |
| Description |
Name |
Rank |
| Sector |
Industrials |
9 |
| Industry |
Airlines |
43 |
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| Daily Trend |
| Description |
Value |
| Direction |
Down |
| Chart Pattern |
DownTrend |
| High |
29.51 |
| High Date |
03/28/2024 |
| Low |
27.80 |
| Low Date |
04/05/2024 |
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| Weekly Trend |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
DownTrend |
| Status |
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| Resistance |
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| Support |
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| High |
35.18 |
| High Date |
02/22/2024 |
| Low |
27.76 |
| Low Date |
03/14/2024 |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Rising Wedge |
| Status |
Broken Support |
| Resistance |
38.11 |
| Support |
35.39 |
| Low |
21.91 |
| Low Date |
11/01/2023 |
| High |
35.18 |
| High Date |
02/22/2024 |
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| Quarterly Trend |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
Falling Wedge |
| Status |
Broken Resistance |
| Resistance |
21.03 |
| Support |
17.89 |
| High |
64.75 |
| High Date |
04/14/2021 |
| Low |
21.91 |
| Low Date |
11/01/2023 |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
DownTrend |
| Status |
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| Resistance |
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| Support |
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| High |
66.99 |
| High Date |
12/21/2017 |
| Low |
21.91 |
| Low Date |
11/01/2023 |
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