Spirit (SAVE) a distressed merger partner with Jet Blue LONG
Updated
SAVE on the 50-minute chart reversed a trend down that started on January 23 which was a
continuation of a previous downtrend which corrected. SAVE is in critical condition. There is a
merger with JBLU which has been successfully challenged in court. The two airlines have a
narrow window in which to file a notice of appeal after which briefing and oral argument
will be calendared. This is a slow process. I cannot find a positive piece of news in this
current week. No matter, price crossed over both short and longer moving averages and had
little bit of more volume. Is this a fakeout? Is this a short squeeze without volume to keep
it going? Are shorts buying to cover? Could this turn into something or is it nothing ?
Who knows ! I think it is worth watching.
continuation of a previous downtrend which corrected. SAVE is in critical condition. There is a
merger with JBLU which has been successfully challenged in court. The two airlines have a
narrow window in which to file a notice of appeal after which briefing and oral argument
will be calendared. This is a slow process. I cannot find a positive piece of news in this
current week. No matter, price crossed over both short and longer moving averages and had
little bit of more volume. Is this a fakeout? Is this a short squeeze without volume to keep
it going? Are shorts buying to cover? Could this turn into something or is it nothing ?
Who knows ! I think it is worth watching.
Trade active
Zoomed to 5 minutes TF linked here Trade active
JBLU on watch for early morning entry Trade active
SAVE fell into moving average support and added 25% to the position to average out an unrealized loss. Cannot find any newest news except JBLU has a new CEO.Trade active
A drop in price and then a slow sideways recovery. Full position for now.Trade active
Sideways going into earnings. Loose stop loss awaiting the direction of the momentum after that.Trade closed: stop reached
Downside hard. Closed to divert cash into crypto and tech earnings plays.
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