Is Southwest Airlines Co. technically bullish or bearish?

As of 24 October 2025, the technical trend for Southwest Airlines Co. has changed from bullish to mildly bullish. The weekly MACD is mildly bearish, while the monthly MACD is mildly bullish, indicating mixed signals across time frames. The daily moving averages are mildly bullish, supporting a positive short-term outlook. However, the weekly Bollinger Bands are bearish, which adds some caution. The Dow Theory shows a mildly bullish stance in both weekly and monthly assessments, and the On-Balance Volume (OBV) is also mildly bullish, suggesting accumulation.
In terms of performance, the stock has underperformed compared to the S&P 500 across multiple periods, with a year-to-date return of -4.22% versus the S&P 500's 15.47%, and a five-year return of -24.75% compared to the S&P 500's 95.99%. Overall, the current technical stance is mildly bullish, but the stock's performance relative to the benchmark raises concerns.