As I have mentioned in previous articles, oil prices are expected to be "lower for longer". With prolonged oil prices, could the airline industry be setting up for moves higher? This article will feature Spirit Airlines (SAVE) since it has been a Trendy Stock Charts favorite. Several Trendy Stock Charts members either trade SAVE or have expressed interest in trading it.
Spirit Airlines is known for being able to squeeze everything they can from their margins, according to one of our Trendy Stock Chart members. That viewpoint seems pretty accurate from when I've seen the CEO of Spirit Airlines (SAVE) on different financial shows.
So with some positive factors going on, let's review some charts!
Spirit Airlines (SAVE)
It's been a little while since I've reviewed some charts for Spirit Airlines (SAVE), so I am going to begin with a 5 year monthly chart. A monthly chart is better for looking at longer-term trends. Here are some positively bullish signs on I see on the chart:
- The MACD Histogram is trending in the right direction
- There has been more buying volume than selling volume during SAVE's uptrends
- SAVE's share price has moved past the Fibonacci Extension Tool's 61.8% Target Line, a common place of uptrend failures
From just looking at this monthly chart, I would say that any pullback to the.....
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