vf_investment

Spirit Airlines, Inc. / LONG Position

Long
NYSE:SAVE   Spirit Airlines, Inc
Spirit Airlines, Inc. is an American ultra-low-cost carrier headquartered in Florida. It serves the United States, Latin America, and Caribbean as an airline operator.

Since mid-March, it is possible to see a declining trend in the development of the shares of the analysed company.
Lately, we observed a regular bullish divergence between the price of stocks and RSI and as well as a bullish confirmation indicated by MACD . Moreover, according to the Keltner channel is the price reaching its middle boundary.

Conclusion:
As we can see, all these indicators and tools have shown that the price of shares is already increasing and we assume it is going to continue to grow in the upcoming period. Therefore, we recommend waiting for the price confirmation and once the shares break the downward slopping resistance line to take an advantage of the long position.
For indicating the entry and target levels, the Fibonacci retracement tool was used as follows:
entry range: $25.2-$26.07
target I: $29.73
target II: $31.84
stop loss: $ 24.44

NO FINANCIAL ADVICE