Technical indicators signal a Rising Wedge forming. Verify the setup on the chart.
Reversal pattern. Price likely to break downwards.
Gradual reversal from bearish to bullish.
Bullish continuation if preceding move was up.
A clear signal has emerged for Southwest Airlines (LUV) on the daily chart. The stock is trading at $40.22, up 1.31% on the day. Algorithmically, a Bullish Flag structure has completed. This setup is supported by average volume turnover. A potential breakout level is identified at $42.39, targeting $58.09 with support near $37.23 (R:R 3.04).
What is your outlook on LUV?