• Return to Headlines

Possible Bearish Inside Day Candle Pattern Detected for Spirit Airlines (NYSE:SAVE)

By Nick Russo

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Spirit Airlines (NYSE:SAVE) based on the price action in the company's shares. Today's price range of $14.04 and $15.29 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Spirit Airlines may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Spirit Airlines, Inc. owns and operates airlines. The Company provides travel opportunities principally to and from South Florida, the Caribbean, and Latin America. Spirit Airlines offers travel insurance, onboard beverages and snacks, vacation packages, carry-on and checked baggage, online booking, and other services.

Potential upside of 226.7% exists for Spirit Airlines, based on a current level of $15.26 and analysts' average consensus price target of $49.86. Spirit Airlines shares should first meet resistance at the 50-day moving average (MA) of $18.03 and find additional resistance at the 200-day MA of $34.53.

In the past 52 weeks, Spirit Airlines share prices have been bracketed by a low of $0.00 and a high of $55.21 and are now at $15.26, -100% above that low price. Over the past week, the 200-day moving average (MA) has gone down 1.6% while the 50-day MA has declined 9%.

SmarTrend is tracking the current trend status for Spirit Airlines and will alert subscribers who have SAVE in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle spirit airlines

Ticker(s): SAVE