The Long Investor

$LUV - RC -

Added 2023-12-01 19:58:04 +0000 UTC

$LUV is at a very important junction now, it is testing the 0.65 Fib at $26.56 from below after bouncing very well on the blue line, which was the Covid Low....we have seen on the $DIS chart, just how effective a bounce can be on the Covid Low line.

A break above $26.56 and above the yellow trend line just slightly above and this will be showing strong signs of reversing. It needs to hold above this yellow line tho, we have seen in July how a fake breakout can be misleading.

The break out in July, came back down to test the trend line and it did not hold, timing for $LUV here was unfortunate as many of the US carriers struggled at this time too and the conflict in the middle east in October added to their issues as there was a concern that oil prices would go parabolic and affect their bottom line.

This has not materialised...yet....and the price has been able to recover.

So holding above $27, and this is looking attractive again.