Resistance

Billion

Daily

<ul class="list-ic vertical">
 <li><span>1</span> <a>Southwest Airlines Stock persists in a free fall below the key exponential moving average of 50-day.&nbsp;&nbsp;</a></li>
 <li><span>2</span> <a>Southwest Airlines Company (NYSE: LUV) is yet to announce quarterly results on Thursday, 26th October.&nbsp;</a></li>
 <li><span>3</span> <a>Southwest Airlines’s stock price is headed to test a 3-year low price.&nbsp;</a></li>
</ul>
<p>Southwest Airlines stock price continued the free fall on Tuesday after it fell 1.61% and closed at $23.90. The LUV stock price has been in a free fall in the current quarter. The stock price slipped below the 50-day EMA at the very beginning of the current quarter and witnessed a continuous decline in the price without any pullback.&nbsp;</p>
<p>However, the last quarter favored the bulls as the stock price bottomed out near $28 and surged to a high of $40. The stock price broke above the 50-day and 200-day EMA but could not sustain more above it and slipped down.&nbsp;&nbsp;&nbsp;</p>
<h2 class="wp-block-heading" id="strong-southwest-airlines-company-to-announce-quarterly-results-strong"><strong>Southwest Airlines Company To Announce Quarterly Results</strong></h2>
<p>The Southwest Airlines Company is yet to announce quarterly results on Thursday, 26th October which may try to halt the fall. The Wall Street analysts are estimating the revenues to be around $6.56 Billion and expecting the company to show earnings of $0.378 Billion. An outperforming earnings might attract investors and the price may show gains.</p>
<h2 class="wp-block-heading" id="strong-southwest-airlines-stock-price-analysis-over-daily-chart-strong"><strong>Southwest Airlines Stock Price Analysis Over Daily Chart.&nbsp;</strong></h2>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-us.googleusercontent.com/3kSOUmqclMr_G3tWA6pkh7B1aTBYanRcC3CekanLTqUgqtdPp7eMPp60wJUTgbOJW3cAE33hMbaPuQhl2W-RsjbsAHMUjzCFiGpl-bLerlBf_HnsiMqw5HP4t7v0cgvmW6MQFd9bKbnTx6auwo-TcVs" alt="Can Quarterly Earnings Save Southwest Airlines’ Stock Crash?">
  <figcaption class="wp-element-caption">
   Source: Southwest Airlines&nbsp; 1W. NYSE By <a href="https://www.tradingview.com/x/3wB4g70u/" rel="noopener noreferrer nofollow">TradingView</a>
  </figcaption>
 </figure>
</div>
<p>Moreover, the bears are in total control of the Southwest Airlines stock and the stock price is in a free fall. The price may keep declining until it encounters major support on its way.<br><br>The price has immediate support of $23.75 and $22.46 from where buyers might try to enter the game. The bulls are losing the game and need to accumulate with higher volume on the lower levels to counter the decline.&nbsp;&nbsp;&nbsp;&nbsp;</p>
<p>The overall technical opinion rating including RSI and MACD signals a 90% “sell” with a strong short-term outlook on maintaining the current direction.</p>
<p>The analysts offering a 1-year price forecast for the <a href="https://www.thecoinrepublic.com/2023/03/29/southwest-airlines-stock-luv-stock-price-hit-fresh-52-week-low/" rel="noopener noreferrer nofollow">Southwest Airlines stock</a> have a maximum potential of 109.21% on the upside which could lead the price to a high of $50. The minimum estimate of the analysts expects a drawdown of 16.32% from the current price and hike the price to a high of $20.&nbsp;</p>
<h3 class="wp-block-heading" id="strong-conclusion-strong"><strong>Conclusion</strong></h3>
<p>Southwest Airlines’ stock price dropped 1.61% on Tuesday and closed at $23.90. The price has been falling in the current quarter and broke below the 50-day and 200-day EMA. The quarterly results on 26th October may affect the price trend.&nbsp;</p>
<p>The analysts expect revenue of $6.56 Billion and earnings of $0.378 Billion. The technical indicators signal a 90% “sell” rating. The price has support at $23.75 and $22.46. The analysts’ 1-year forecast ranges from $20 to $50. The bears are dominating the bulls.</p>
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4>
<ul>
 <li><strong>Support levels:</strong> $23.75 and $22.46.&nbsp;</li>
 <li><strong>Resistance levels:</strong> $24.97 and $25.95.</li>
</ul>
<h4 class="wp-block-heading"><strong>Disclaimer</strong></h4>
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes 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>

Can Quarterly Earnings Save Southwest Airlines’ Stock Crash?

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Thecoinrepublic.com

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