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Spirit Airlines Set to Possibly Pullback After Yesterday's Rally of 1.70%

By James Quinn

Spirit Airlines (NYSE:SAVE) traded in a range yesterday that spanned from a low of $37.51 to a high of $38.74. Yesterday, the shares gained 1.7%, which took the trading range above the 3-day high of $38.58 on volume of 834,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

In the past 52 weeks, Spirit Airlines share prices have been bracketed by a low of $37.17 and a high of $60.40 and are now at $38.27, 3% above that low price. 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%.

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 24.8%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: rebounders spirit airlines

Ticker(s): SAVE