Potential Double Bottom forming on SAVE

16 mai 2020

Spirit Airlines chart has looked terrible over the past week and a half. Thankfully I believe that this stock may be in for quite a relief bounce. It looks like SAVE could have formed a double bottom at around $7.20. This recent low was formed in Mid March, and as price approaced this range this past week, it bounced off perfectly showing that level to be a strong support. If PA reacts in a similar manor as it did in March, we could see a relief bounce targeting around $15.00. I think that if PA can break the $8.70-9.00 falling resistance, better days could be in store. Ready to see how this one plays out.