LUV Swing Long on Pullback

2017年3月19日

Southwest Airlines (LUV) broke out of a multi-year consolidation in January 2017 and moved up to the $60 level before encountering 2 weeks of selling. Based on a healthy RSI and an unfinished move to the Measure Move target of $63.20, I see the retracement as a potential buy zone.
Target a first entry between $50-51.50 and a 2nd entry around the $48.50 support.

I will update with option pricing as we near the entry targets.

2017年4月2日

取消訂單

I'm cancelling this trade idea due to overall weakness in the transports (IYT) and the big move up last week. I believe that this would indicate a 2 leg move down below the breakout level.