Today LUV went up after going through a couple down days. I'm kind of a noob to to technical indicator trading and I wanted to know if the BBands are still predicting bear trend or if any other indicators were.
As far as I know, the Bollinger Bands are not predicting that LUV is in a downtrend. And the megatrend is UP. If you look at the all-data chart of LUV (1973-2011), it's an uptrending stock. It's in a main downtrend since 2001. And it is in a short-term uptrend, which started in 2009. Right now it is touching the support line, which you get if you connect the Nov 2009 bottom and the Aug 2010 bottom. We're right there now. The stock "SHOULD" jump up from here. There's really no guarantee that it will jump up from here, but sometimes it does. So, basically the stock is at a decision point right now.