SAVE trade ideas
Spirit Airlines approaching break out to wave 5 #SAVE looking to break out here. The Elliot cycle lines up pretty nicely, the technical indicators are favorable, holiday season is coming and there is possibly going to be some news of a vaccine from the CDC in the coming weeks.
All this points to a high probability trade setup.
Ascending Triangle ABC BullishNo rising wedges. Short interest very low surprisingly
Almost all of the travel stocks are in this same pattern. The ABC Bullish pattern is easy to spot. Stop goes under C.
Measure your AB leg and add it to B/O price, being aware of prior R and realizing there may be R at B. A stock can go further than this if market conditions are favorable. B/O price will be over the BC trendline and a confirmed up trend in place.
If you use fibonacci ratios, then you may want to try 0.62 of AB for target 1, then 1.27 of the AB leg. Then you have your PCZ (point of completion).
There is also an ABC bearish pattern. The ABC bullish structures are formed after a prolonged prior down trend or consolidation trends, whereas bearish ABC patterns are formed after a prior uptrend.
These are harmonic patterns and as crazy as the market may seem, there is symmetry to be found (o:
Not a recommendation
SPECULATIVE OPTION TRADE SAVEBUY call option STRIKE 25$
24 Days to expiration on 2020-09-18
BID 0,15
ASK 0,20
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or BUY call option STRIKE 25$
52 Days to expiration on 2020-10-16
BID 0,55
ASK 0,60
$SAVE Spirit Airlines Chart Review
Potential long above 50ma and Mid Channel support.
Targets
-$18.96 Fibonacci .382 retracement level.
-$19.60 Channel Trendline resistance
-$20.30 Fibonacci .5 retracement level
Needs a major pick up in volume
MACD has crossed bullishly above zero-line
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Airlines bullish✈️ SPIRIT AIRLINES ✈️
Bought some at 17.3$ yesterday. Already 1$ plus. Nearest target is at 25$, but if you would like to hodl, than ~32$ is your target. From current price approximately 80% profit and up to 100% from buy zone.
🛒 Buy zone 16 / 16.5 / 17.2
SAVE: Bullish Ready to take off! yada.. not your financial advisor. yada..
wait for 4 hour RSI cross over to 50 for confirmation. Green bar (not doji!) on 4hour and daily Haiken ashi candle.
$SAVE Spirit Airlines Alert for trend-line break
Nice Spike in volume today as the travel stocks found some relief and were in a strong rally until the rug got pulled.
Watching for trend-line break.
SAVE: Long Bullish after several days of shortDaily - not confirmed yet as bullish
4hr - Bullish
1hr Crossed
RSI in all 1-2-4hour and daily are over my comfort level - short for several days
Due to COVID-19, we might see a slight pull back, especially with the increasing numbers again. However, all Airlines seems to start to look good, slowly. This will be short for several days with high RSI in 1hr, then shoot up again.
New to TA. Still learning.
Spirit Airlines Ready to FlyBullish price action with higher lows that have confirmed, heavy volume on Friday's hold at support. T1 and T2 annotated.
Juicy investment opportunity! Spirit Airlines buy signalsSpirit Airlines, monthly timeframe: 9 years old(!) support level + Hammer + Oversold
Nothing will SAVE the impending Spirit crashPretty major gap to fill at $11. It's not confirmed until it breaks from that line.
Good luck.
SAVE, LONG BIAS This is scaled in on the 15 min chart. If we can get above VWAP, I think we'll pick up enough momentum to breakout of this wedge pattern to the upside. However, fundamentals continue to kill us as second wave of the virus pick up drastically across the country. Use proper risk management and do not over leverage.
