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Downtrend Broken Resist.Archive
- 4/19/2024 -
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Southwest Airlines (LUV) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a first positive week for the Southwest Airlines (LUV). During the week, the LUV gained 1.84 points, or 6.68%, and closed at 29.38 on Friday, April 19, 2024. It was the best weekly gain since February 9, 2024. LUV was trading at average weekly trading volume.
LUV is a member of Industrials Sector. Industrials is the second 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 (17.55) 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 (36.66) is broken. A broken support is considered to be a long-term bearish 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 support in a medium-term trend.
 Weekly Technical Indicators: [See LUV weekly technical indicators chart]
Weekly Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal. 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 Lane's Stochastic help.
The weekly MACD line is below its signal line since March 28, 2024. The distance between MACD and the signal line is low, but getting bigger. Use the following link to access a MACD help.
 Short-term trend: [See LUV short-term trend chart]
A short-term uptrend had started on April 12, 2024 at 27.41 and reached 29.66 on April 19, 2024. LUV gained -2.25 points, or -8.21%, in 7 days. The price is now at the 12.44% retracement level.
 Daily Technical Indicators: [See LUV daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is above its signal line since April 5, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term uptrend is getting stronger.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
During the last week, the price has moved above the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands is falling, and it was 7.08% on Friday. It is 58.12% lower than one year average. It indicates the period of low volatility of the stock price. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
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