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After Yesterday's Decline of 4.86%, Spirit Airlines Offers Investors Better Value

By James Quinn

Spirit Airlines (NYSE:SAVE) traded in a range yesterday that spanned from a low of $61.40 to a high of $64.49. Yesterday, the shares fell 4.9%, which took the trading range below the 3-day low of $62.28 on volume of 535,000 shares. Often times after large one-day declines, short-term traders may play for some degree of mean reversion.

In the past 52 weeks, shares of Spirit Airlines have traded between a low of $34.36 and a high of $65.35 and are now at $64.59, which is 88% above that low price. Over the past week, the 200-day moving average (MA) has gone up 0.9% while the 50-day MA has advanced 2.0%.

SmarTrend is monitoring the recent change of momentum in Spirit Airlines. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Spirit Airlines in search of a potential trend change.

Keywords: rebounders spirit airlines

Ticker(s): SAVE