American has been lagging behind airlines and should see a nice move upwards once it breaks above this neckline.
The risk reward for a month of June long is there for this one.
$SAVE is still in bearish side and after it formed an unconfirmed cup, now it is looking for its direction. Breaking below $7.25 will confirm the cup w handle,inverted. There is a positive divergence which is a signal for upward. However, there are 20SMA (red one) and 50SMA ahed will work as the resistances. I would wait to get above $18.68 to be long. If you...
I've never traded airline stocks. I like AAL here though-seeing a potential broadening formation. I might consider a small position and set a target for that unfilled gap. Longer term, airline stocks appear cheap right now although I'm not ready to turn bullish on them yet. I'm just not that familiar with them.. but this looks like it has good potential.
Triangle/flag down, imho. Have a good days...
Great uppward support line since last May, except for when it was oversold in October due to ebola scare. Downward resistence line since December forming a wedge pattern. I believe Spirit Airlines will test 80.00 one more time before eventually breaking through the wedge to all-time highs around 85.00.
SAVE- Expect opening at 80 for a Gap n go. Learn this strategy for free at www.RealLifeTrading.com