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Shares of Spirit Airlines Fall to a New 52-Week Low

By James Quinn

Shares of Spirit Airlines (NYSE:SAVE) traded today at $33.90, breaking its 52-week low. So far today approximately 338,000 shares have been exchanged, as compared to an average 30-day volume of 1.2 million shares.

In the past 52 weeks, shares of Spirit Airlines have traded between the current low of $33.90 and a high of $60.40 and are now at $33.99. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.7% while the 200-day MA has slid 0.7%.

Spirit Airlines Inc. is a low-fare airline based in Miramar, Florida. The Airline provides low-cost travel opportunities principally to and from South Florida, the Caribbean, and Latin America. Spirit Airlines basic service combines with a range of optional services for additional fees, targets price sensitive leisure travelers and travelers visiting friends and relatives.

Spirit Airlines has overhead space with shares priced $33.99, or 49.2% below the average consensus analyst price target of $66.92. Spirit Airlines shares should first meet resistance at the 200-day moving average (MA) of $46.19 and find additional resistance at the 50-day MA of $47.60.

SmarTrend recommended that its subscribers protect gains by selling shares of Spirit Airlines on July 21st, 2017 by issuing a Downtrend alert when the shares were trading at $50.03. Since that call, shares of Spirit Airlines have fallen 31.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: 52 week high/lows spirit airlines

Ticker(s): SAVE