Spirit Airlines (NYSE: $SAVE) Facing Multiple Resistance Zone
Spirit Airlines (NYSE:
SAVE
) is facing strong resistance from multiple trend lines and zones in the daily and weekly time frames. The first resistance is at $15.43, which is the downward trend line drawn from the June high. The second resistance is at $15.96, which is another downward trend line drawn from the August high. The third resistance is a zone ranging from $16.85 to $17.07, which is formed by a combination of multiple trend lines in multiple time frames.
The stock has shown some signs of recovery in the last week, gaining more than 40% from its low and breaking above the 5-day, 10-day, and 20-day simple moving averages (SMAs). However, the stock is still below the 50-day, 100-day, and 200-day SMAs.
SAVE
) is facing strong resistance from multiple trend lines and zones in the daily and weekly time frames. The first resistance is at $15.43, which is the downward trend line drawn from the June high. The second resistance is at $15.96, which is another downward trend line drawn from the August high. The third resistance is a zone ranging from $16.85 to $17.07, which is formed by a combination of multiple trend lines in multiple time frames. The stock has shown some signs of recovery in the last week, gaining more than 40% from its low and breaking above the 5-day, 10-day, and 20-day simple moving averages (SMAs). However, the stock is still below the 50-day, 100-day, and 200-day SMAs.
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