Technical analysis update: LUV (13th July 2021)

Southwest Airlines Company experiences correction similarly like Delta Airlines. Graphs of these two companies show high positive correlation. Though there are some differences. In Southwest Airlines Company RSI bottomed out and reversed back above 30 points. MACD and Stochastics show first signs of reversal too. In addition to that LUV did not retrace its recent opening gap. These are all bullish developements for LUV. Because of that we would like to set our short term price target for LUV to 55 USD and our medium term price target to 57.50 USD.

Correlation with DAL:

Disclaimer: This analysis is not intended to encourage buying or selling of any particular securities. Furthermore, it should not serve as basis for taking any trade action by individual investor. Your own due dilligence is highly advised before entering trade.

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