Despite the moves, Strategic Wealth Partners President"I don't own any airline stocks right now. I just quite frankly don't have the stomach to trade those day in and day out, but number one thing on my radar that I'm watching is the TSA 'throughput' traffic numbers," Tepper told CNBC's "The Transportation Security Administration says the number of travelers passing through airport checkpoints fell 74% in July compared with last year.
, says it's hard to bet against the airlines given their large swing higher. However, he's not ready to back any."This isn't a recommendation to buy Southwest Airlines, but I will set up the trade for those interested. It has stabilized and is trying to base out since its March bottom. You see counter-trend strength into I believe $42, which is resistance at its 200-day average, as long as support at its 50-day [average] is upheld.
Southwest rallied more than 6% on Monday, closing the day at $36.91 a share. A move to $42 implies 14% upside.
TradingNation We all know the worst is American!!!!!! in every category!!! especially the CEO
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Source: CNBC - 🏆 12. / 72 Read more »