Bearish For Spirit

NYSE:SAVE   Spirit Airlines, Inc.
We are looking at a break out here on Spirit Airlines to the bearish side. We can see there has been a Symmetrical Triangle that was formed over the course of almost a year. It broke out recently to the bearish side. Now it seems like it might pull back hit the trend line and bounce back down or it is going to consolidate. Either way in 5 to 6 weeks we a looking at a big move more likely to the downside. Even though is a little more risky trade than usual this has great potential.


Some technicals include.

Performance rank: Bull Market: 16 out of 23, Bear Market: 7 out of 19
Break-even failure rate: Bull Market: 9%, Bear Market: 7%
Average rise: Bull Market: 31%, Bear Market: 26%
Change after trend ends: Bull Market: –31%, Bear Market: –33%
Volume trend: Bull Market: Downward, Bear Market: Downward
Throwbacks: Bull Market:37%, Bear Market: 55%
Percentage meeting price target: Bull Market: 66% , Bear Market: 57%


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