$LUV
Added 2024-06-10 10:58:08 +0000 UTCUp +7% in the PM now after Elliott reveals an activist stake in $LUV and I spoke about this happening with $JBLU over the weekend.
These two airlines are not being run correctly and are falling behind, it is no surprise to see Icahn and Elliott feel they can turn things around here.
$LUV is in a good position to progress but they must improve on their margins, they far too small and susceptible to any increases in costs eg. oil prices.
On the chart we can see that the price hit the 0.78 Fib and has bounced, perfect for an abc pull back to complete.
With this PM move, the price is back above the 50 and 200 Day MA.
If the bulls can keep the price above the 200 Day MA at $28.50, this could be a good position to add.
