Spirit Airlines Stock Forecast
Spirit Airlines stock upgraded from Strong Sell Candidate to Sell Candidate after Wednesday trading session.
(Updated on Apr 24, 2024)
The Spirit Airlines stock price fell by -2.90% on the last day (Wednesday, 24th Apr 2024) from $3.79 to $3.68. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 3.56% from a day low at $3.65 to a day high of $3.78. The price has fallen in 7 of the last 10 days and is down by -17.49% for this period. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -2 million shares and in total, 4 million shares were bought and sold for approximately $16.54 million.
The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -41.95% during the next 3 months and, with a 90% probability hold a price between $1.62 and $2.60 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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SAVE Signals & Forecast
There are few to no technical positive signals at the moment. The Spirit Airlines stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $3.95 and $4.47. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, April 09, 2024, and so far it has fallen -25.05%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Spirit Airlines stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.130 between high and low, or 3.56%. For the last week, the stock has had daily average volatility of 5.32%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (SAVE) For The Upcoming Trading Day Of Thursday 25th
For the upcoming trading day on Thursday, 25th we expect Spirit Airlines to open at $3.70, and during the day (based on 14 day Average True Range), to move between $3.37 and $3.99, which gives a possible trading interval of +/-$0.305 (+/-8.29%) up or down from last closing price. If Spirit Airlines takes out the full calculated possible swing range there will be an estimated 16.59% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $4.11, some $0.430 (11.68%) from the current price of $3.68, our system finds the risk reward not very attractive.
Is Spirit Airlines stock A Buy?
Spirit Airlines holds several negative signals and is within a very wide and falling trend, so we believe it will still perform weakly in the next couple of days or weeks. We therefore hold a negative evaluation of this stock. We have upgraded our analysis conclusion for this stock since the last evaluation from a Strong Sell to a Sell candidate.
Current score: -4.660 Sell Candidate Upgraded
Predicted Opening Price for Spirit Airlines of Thursday, April 25, 2024
| Fair opening price April 25, 2024 | Current price |
|---|---|
| $3.70 ( 0.634%) | $3.68 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SAVE
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 3.83 | 4.17 % | |
| R2 | 3.78 | 2.82 % | ||
| R1 | 3.75 | 1.98 % | ||
| Current price: | 3.68 | |||
| Support | S1 | 3.65 | -0.715 % | |
| S2 | 3.62 | -1.55 % | ||
| S3 | 3.57 | -2.90 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 4.49 | 22.01 % | |
| R2 | 4.45 | 20.92 % | ||
| R1 | 4.11 | 11.68 % | ||
| Current price | 3.68 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
SAVE Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Feb 22, 2024 | Feb 22, 2024 | Feb 29, 2024 | $0.100 | 1.55% |
| 2 | Jan 12, 2024 | Jan 24, 2024 | Jan 31, 2024 | $0.100 | 1.59% |
| 3 | Dec 12, 2023 | Dec 21, 2023 | Dec 29, 2023 | $0.100 | 0.610% |
| 4 | Nov 14, 2023 | Nov 22, 2023 | Nov 30, 2023 | $0.100 | 0.675% |
| 5 | Oct 13, 2023 | Oct 24, 2023 | Oct 31, 2023 | $0.100 | 0.87% |
FAQ
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