Bill Baruch: Southwest Is Going To Outperform Peers In The Long Term
On CNBC's "Trading Nation," Bill Baruch of Blue Line Capital said the airline sector is a very tough space right now and investors should pick names they like. He added that President Trump won't let these companies disappear so this is providing some support.
Baruch said the airlines stocks may not perform throughout this year or at least through the next couple of months, but he would take a look at Southwest Airlines Co (NYSE:LUV).
The low that Southwest tested in March and April is the 61.8% retracement from the 2009 low. He sees that as a good technical support. If the stock could break above $38, it could reach $44 in the near term. In 2021 and 2022, Baruch expects Southwest to be a better performer than its peers.
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