Southwest Airlines Co (NYSE:LUV): Tails Signal Top

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Southwest Airlines Company (NYSE:LUV)

NYSE:LUV Southwest Airlines Company

LUV southwest

luv southwest

Southwest Airlines Co (NYSE:LUV) has a topping tail on the daily from Tuesday. In addition, today it initially shot higher, testing the recent highs from Tuesday, then sold off sharply. This created another tail on the daily chart. This shows institutional sellers are meeting retail buyers. Considering the stock is up over 40% in less than a month, the probability of a sell off is above 80% here.

Gareth Soloway
Chief Market Strategist

Penafian

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