Long
SAVE gaps up above $80
On one of my other posts today I looked at LUV - another airline. LUV offers both a long-term and near-term buy opportunities. For SAVE, however, I would only consider a near-term opportunity.
SAVE had a good breakout and retest after breaking above the September high. It has now gapped above the more recent November high and $80. However, I do not have much data on SAVE (it only goes back to 2011). This is adequate for a near-term trade but not, for me, a longer-term one. Volume is also a little on the low side (although up on the breakout).
Overall, while this chart looks promising and I anticipate price going higher, I do not want to overcommit to one sector and I prefer LUV. If this were not an aspect of my trading plan then I might consider a long-term long on LUV and also a near-term long on SAVE.
SAVE had a good breakout and retest after breaking above the September high. It has now gapped above the more recent November high and $80. However, I do not have much data on SAVE (it only goes back to 2011). This is adequate for a near-term trade but not, for me, a longer-term one. Volume is also a little on the low side (although up on the breakout).
Overall, while this chart looks promising and I anticipate price going higher, I do not want to overcommit to one sector and I prefer LUV. If this were not an aspect of my trading plan then I might consider a long-term long on LUV and also a near-term long on SAVE.
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