Million

Billion

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>LUV stock declined over 5% in a week and around 8% in the month.&nbsp;</a> </li> 
 <li> <span>2</span> <a>Southwest Airlines Co.’s majority of shares are free floating and 0.42% are closely held.&nbsp;</a> </li> 
 <li> <span>3</span> <a>The RSI curve shows a steep decline from the overbought zone and forms a bearish divergence.&nbsp;</a> </li> 
</ul> 
<p>LUV stock declined significantly in the yearly time frame as it lost 20.69% of its trading price. At the time of publication, Southwest Airlines, Co. stock was trading at $29.97 which is a decline compared to its previous closing price.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-will-luv-stock-oppose-decline-and-head-towards-resistance-strong"><strong>Will LUV Stock Oppose Decline and Head Towards Resistance?&nbsp;&nbsp;</strong></h2> 
<p>On the September 6 trading session, the LUV stock trading range was $29.75 and $30.86. The 52-week trading range of Southwest Airlines Company’s stock is $28.40 and $40.36.&nbsp;</p> 
<p><a href="https://www.thecoinrepublic.com/2023/09/06/t2-biosystems-inc-under-bearish-pressure-ttoo-to-decline-more/" target="_blank" rel="noopener noreferrer nofollow">Southwest Airlines</a> has a market capitalization of $17.851 Billion and a decline of 10.71% is seen compared to the market cap in 2022. TradingView data states that 593.128 Million LUV shares are free floating and 0.42% are closely held.&nbsp;&nbsp;</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh3.googleusercontent.com/3Z-n8lFt0Ni7i7Ifo7NKlLo0QftPGw7JH7BEh0syEFXVPDGi_7GIYqqQxfhSltAnTa9DcCG0_ySHAVDytWn0HHoCwU96Z1YeOwgCe16uOufhbQJ38Ia0l4_YkxgB589GO6BK6Mc53hOS5c8VfOA7Hw" alt="LUV Stock Forming Inverted V, Might Retest Support Levels at $28"> 
  <figcaption class="wp-element-caption">
    Source: LUV stock price chart from <a href="https://www.tradingview.com/x/gFxYWenb/" rel="noopener noreferrer nofollow">TradingView&nbsp;</a> 
  </figcaption> 
 </figure> 
</div> 
<p>LUV stock is showing an inverted V-shaped fall and is heading to towards $28, retesting the primary support zone. The RSI curve shows a steep decline from the overbought zone and forms a bearish divergence on the charts suggesting a negative outlook.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh4.googleusercontent.com/H76ye8AN4IW3Fd5ohenpspYpwygTV3s2wFxn-hXgXJYK0LDTA_ex6LNLE07PRMpuRpEr5RbLbRFs6DW_-ApaWgeQWgo8LG8zJpmi7Gs3Yyvi-8gQX8ImqU6ECqeX7EPHYc-ZQLWgZzIS7-DX2Q-1qw" alt="LUV Stock Forming Inverted V, Might Retest Support Levels at $28"> 
  <figcaption class="wp-element-caption">
    Source: LUV stock price chart from <a href="https://www.tradingview.com/x/vHLjDebs/" target="_blank" rel="noopener noreferrer nofollow">TradingView </a>(YTD frame) 
  </figcaption> 
 </figure> 
</div> 
<p>Similarly, the MACD indicator showed a bearish crossover and reflected signs of weakness on the charts signaling selling pressure. According to market analysts, there are possibilities that LUV stock might open below its previous closing price.</p> 
<p><a href="https://www.thecoinrepublic.com/2023/09/06/t2-biosystems-inc-under-bearish-pressure-ttoo-to-decline-more/" target="_blank" rel="noopener noreferrer nofollow">Southwest Airlines Inc.</a> is trading below its annual price target of $35.33. It is important to note that at the time of publication, LUV stock price was trading below 20, 50, 100, and 200-day EMA.&nbsp;</p> 
<p>Southwest Airlines Co. engages in the operation and management of a passenger airline. The firm also offers ancillary services such as early bird check-in, upgraded boarding, and transportation of pets and unaccompanied minors.</p> 
<h3 class="wp-block-heading" id="strong-southwest-airlines-co-financial-updates-strong"><strong>Southwest Airlines, Co. Financial Updates&nbsp;</strong></h3> 
<p>In the second quarter of 2023, Southwest Airlines Co. was supposed to report $6.98 Billion and the estimated EPS was positive 1.09. However, the reported revenue was $7.04 Billion, and the reported EPS was 0.30% less than the estimated EPS.&nbsp;</p> 
<p>The expected revenue for the third quarter is $6.63 Billion and the EPS is positive 0.50.&nbsp;</p> 
<p>The gross profit of the company in 2022 was 16%, Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) was 6%, &nbsp;Earnings before interest and taxes (EBIT) was 1% and net income was 2%. &nbsp;</p> 
<p>The majority of Southwest Airlines’ income is gathered from the business of passenger flight and Freight. In the long term, the assets of the company are $22.56 Billion and liabilities are $16.03 Billion.&nbsp;</p> 
<h4 class="wp-block-heading"><strong>Technical Levels&nbsp;</strong></h4> 
<p>Major Support: $28.40 and $28.00&nbsp;</p> 
<p>Major Resistance: $30.65 and $32.93&nbsp;&nbsp;</p> 
<h4 class="wp-block-heading"><strong>Conclusion&nbsp;</strong></h4> 
<p>The continuous decline of LUV stock has astonished market analysts as well as investors. A decline of more than 5% is seen in the weekly time frame and LUV stock slipped over 8.20% in a month.&nbsp;</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.&nbsp;</p>

LUV Stock Forming Inverted V, Might Retest Support Levels at $28

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