Southwest Airlines ( LUV) has been taking repeated body blows in the media as it has canceled thousands of flights in recent weeks and left travelers stranded for days. It's a real publicity disaster. Let's check out the charts and indicators to see what traders think of Southwest's stock right now.
In this daily bar chart of LUV, below, I can see a downward trend playing out the past 12 months. Prices made a low in early October and so far that nadir has not been broken to refresh the downtrend. LUV is trading below the 50-day moving average line and below the declining 200-day line. Trading volume has been very heavy in recent days as traders vote with their feet and sell shares on expectations of increased expenses, fines and customer fallout.
The On-Balance-Volume (OBV) line turned lower in early December ahead of the holiday passenger crush and the OBV line is very close to making a new low for the move down. The Moving Average Convergence Divergence (MACD) crossed to the downside in November and crossed below the zero line the other day for an outright sell signal. 
In this weekly Japanese candlestick chart of LUV, below, we can see that LUV chart problems started way back in early 2021 and not two weeks ago. Prices trade below the declining 40-week moving average line.
The weekly OBV line shows weakness from the first quarter of 2021. The candles do not show me a bottom reversal pattern and no lower shadows, unfortunately. The MACD oscillator is bearish and close to a new downside crossover.
In this daily Point and Figure chart of LUV, below, I can see a downside price target in the $25 area.
In this weekly Point and Figure chart of LUV, below, I see the same $25 price target as the daily chart above.
Bottom line strategy: The charts of LUV are bearish and the broad market averages are weak -- not a good combination. LUV could experience a temporary bounce but the trend is down and the October lows are likely to be tested. Avoid the long side of LUV.
