LUV Forges Bear Trap with Failed Support Break

Southwest Airlines (LUV) broke support with high volume in late April, but quickly recovered this support break with a surge back above 11.60 the last few days. Despite this quick recovery, signs of indecision are showing with the upper shadows in the candlesticks. There is a resistance zone around 11.8-12 and follow through above this level would be most positive.

110429luv


Click this image for a live chart

 Previous Article Next Article