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Actionable news in LUV: SOUTHWEST AIRLINES CO.,

Southwest Airlines (LUV) Stock Reaches Cruising Altitude

NEW YORK (TheStreet) -- It looks like it's wheels up for Southwest Airlines Co. (LUV - Get Report) .

Like many other stocks, Southwest reversed direction and made a mid-air adjustment lower this year. After making a "V" bottom in the beginning of July, LUV turned around and rallied, even when the broader market in stocks suffered declines in August -- as seen in the chart, above. The On-Balance-Volume line has improved from its July low and let's hope it will break out to a new high as the price of LUV surged higher today.

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The longer-term chart, above, shows the smooth lift off in LUV to $45 from $10. The chart also shows LUV is back above a flat 40-week moving average and the weekly On-Balance-Volume line is rising. All systems seem to be okay for further gains in LUV. Protective sell stops should be under $37 for now.

TheStreet Ratings team rates SOUTHWEST AIRLINES as a Buy with a ratings score of A. TheStreet Ratings Team has this...


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