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Southwest Airlines (LUV) Crosses Pivot Point Support at $13.10Apr 02, 2013 (SmarTrend(R) News Watch via COMTEX) -- Shares of Southwest Airlines (NYSE:LUV) have bearishly opened below the pivot of $13.31 today and have reached the first support level of $13.10. Should the shares continue to fall, the support pivots of $12.98 and $12.65 will be of interest. Southwest Airlines has overhead space with shares priced $13.13, or 0.8% below the average consensus analyst price target of $13.23. The stock should find initial support at its 50-day moving average (MA) of $11.92 and further support at its 200-day MA of $9.99. Over the past year, Southwest Airlines has traded in a range of $7.76 to $13.58 and is now at $13.13, 69% above that low. In the last five trading sessions, the 50-day moving average (MA) has climbed 0.7% while the 200-day MA has risen 0.4%. SmarTrend recommended that subscribers consider buying shares of Southwest Airlines on May 31st, 2012 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $8.99. Since that recommendation, shares of Southwest Airlines have risen 47.2%. We continue to monitor LUV for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately. Write to Chip Brian at [email protected] --------------------------------------------------------------------------------------------- SmarTrend analyzes over 5,000 securities simultaneously throughout the trading day and provides its subscribers with trend change alerts in real time. To get a free trial of our trading calls and maximize your trading results, please visit http://www.MySmarTrend.com Get exclusive, actionable insight into how the market is expected to trend prior to market open with our free morning newsletter. Sign up at: http://www.MySmarTrend.com/signup |