Looking at southwest I was initially enthusiastic about an easy move to around the $61 level. After reaping the rewards of some strange earnings yielding a near 9% return on the 26th of July, I decided I would stay in my position for one more day and see how the momentum would swing. When I was up nearly 2.42% ($58.08 luv) I decided to sell. Even though the volume was continuing its explosive path I noticed from the previous major trough where explosive price action took place had many similarities to the divergence that was forming right now. I think on Monday or Tuesday I small pullback will occur before the larger gains happen week on week for a couple months potentially testing new all time highs. Also not to go into too much depth because this trade is really out of greed and just trying to earn some extra shares while I can, the current RSI levels seem to be testing historically hard levels to sustain. If I had to put my faith into one indicator and one indicator only, it's RSI. When Southwest historically tests the low 70's to mid 80's it doesn't last long and a small (or big) reversal occurs. Lets see how the momentum can fully play out next week!
Happy trading :)
Happy trading :)
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.