Show me some LUV 💙
Southwest stock ($LUV) dropped last week and it appears to have found a bottom for now. It’s currently under 30 RSI sitting at 27/28 right now. It’s also under its 200 SMA of $29.87. There’s a chance it could go lower with all the drama happening with Boeing ($BA) which is also below 30 RSI and its 200 SMA.
Fuel prices and Boeing production delays are largely responsible for the drop in share price.
I’m starting a position just under $28 and will continue to build a position as it consolidates. I’ll DCA on the dips as well.
Others are also seeing the value of Southwest at this price:
Gonna keep an eye on $LUV as well as $BA as they fit in nicely with my current trading strategy.
Also worth watching is Airbus ($EADSF) as only them and Boeing are the two major players in the airliner building game. Airbus stock is soaring based on all the Boeing troubles. Especially with the surge in travelers specifically searching for flights on non-Boeing planes.
Our old friend Spirit ($SAVE) is also back under 30 RSI after the failed merger with JetBlu ($JBLU). This is the lowest the stock has been in years and could be a potentially great bargain buy assuming they do not go bankrupt first:
OTHER UPDATES
ADM
Up about 14% on $ADM which just topped over 70 RSI so debating on taking some profits or holding strong. Either way, there’s more headroom down the road:
DBX
Continuing to add to DBX as it consolidates. The 5 has crossed over the 20 so we should see some upward movement incoming:
Trade long and prosper!
🖖
Sign Up for a Medium Membership: https://spocktradez.medium.com/membership
