SPR trade ideas
Cleared for Climb!Spirit AeroSystems (SPR) is gaining bullish momentum, with a gap forming around the $31.00 level. A breakout above the $33.00 resistance would signal further upside, positioning the stock to target the $41.16 weekly resistance. This setup offers an attractive risk-to-reward ratio, with a stop-loss at $29.23 to manage downside risk.
As a key supplier to the aerospace industry, Spirit AeroSystems is poised to benefit from the recovery in global air travel and increasing aircraft production. The company's strong relationship with major players like Boeing and Airbus, combined with ongoing efforts to streamline operations and control costs, enhances its long-term growth prospects.
This combination of technical momentum and a favorable industry backdrop supports a bullish push toward $41.16, offering a promising opportunity for traders and investors.
NYSE:SPR
SPR, 2024-06-20, LongContext:
Weekly - Support Zone @ 30.53/28.48
Daily - Trend line break; Retracement back to "Last Red" (block)
1h - BOS/CHOCH (you choose); "Firs Red" as entry/stop range (2x ATR (near term) rounded as stop buffer)
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Main Target - Weekly Resistance Zone @ 34.36
Breakeven stop @ 32.54
2/3s out @ 32.75 (Fib ext 1.0)
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Expected RR (at full) 4.64
Spirit AeroSystems Lays Off 450 of its WorkersSpirit AeroSystems ( NYSE:SPR ), an aerospace supplier, has announced plans to lay off up to 450 employees in the coming weeks due to slower delivery rates on commercial aircraft. The company is also in talks to be acquired by Boeing, which it spun off from in 2005. Spirit AeroSystems makes fuselages at its Wichita facility for Boeing's bestselling 737 Max plane, which deliveries have slowed due to a door panel blowout and safety crisis at Boeing.
Spirit AeroSystems ( NYSE:SPR ) reported a quarterly loss of $616.7 million for the first three months of the year, with about 70% of its revenue last year coming from Boeing. The company is also in talks to be acquired by Boeing, which it spun off from in 2005. Boeing CEO Dave Calhoun said it is "more than likely" that the companies will reach a deal during the second quarter.
The company is laying off several hundred members of its workforce in Wichita, Kansas, as it deals with high debt and slowed production at Boeing, its key customer. Spokesman Joe Buccino said the recent slowdown in the delivery rate on commercial programs compels a reduction to the workforce in Wichita. The memo, first reported by Wichita-based KSN, said about 400 employees would be affected. Spirit had already started to limit overtime and hiring as production declines due to lower output of 737 MAX jets following a January mid-air blowout on a Boeing plane.
Stock Performance
Spirit AeroSystems ( NYSE:SPR ) share is down 0.84% as of the time of writing trading along the 100-day Moving Average (MA) with a Relative Strength Index (RSI) of 39.68 which appears to be overbought.
$SPR Spirit Aerosystems. The Levered BA bet you don't know about$SPR is an aerospace parts supplier to Boeing. The manufacture large components of Boeing jets and also make parts for defense aircraft which is the fastest growing part of Spirit Aerosystem's business. As Boeing continues to recover, watch as $SPR probably move up even more violently. Target for investment is $100 in 2025
SPR Spirit has Sown +100% if Got it Right.Spirit Airlines Wild Ride as Shown.
Use these Tips such as ALT +V to draw a Vertical point in time
ALT + V
Also Using ALT +H Draws a Horizontal Line.
But a good Short Cut is ALT+J for your horizontal Ray to the Right.
Then use your many features to study, but also document everything as shown.
Works for me.
Spirit AeroSystems, Abbott Labs earningsSpirit AeroSystems (SPR) shares soar, closing Wednesday by over 23% higher, on a new collaborative agreement with Boeing (BA). Health care company Abbott Labs (ABT) beats its third-quarter earnings estimates and raises its forecast on the mass adoption of weight loss drugs.
SPR - Similar Double Bottom Recovery Double bottom forming on SPR along a dominant uptrend in white
The second bottom point is currently under formation
This will likely lead to a sharp recovery, as it did with the first double bottom along this trend line
Again using bars patterns to plot recoveries
SPR Head and Shoulders - At Channel Support SPR today hit the bottom of its recent price channel with a nasty bearish candle. It has formed a nearly flawless head and shoulders pattern, and the question now is whether it holds at current support and heads back up or falls down to the necklines of the pattern. If it closes under the channel support, I would consider this a short opportunity down to the neckline of the H&S pattern (somewhere around $36.50 - $37.50), which could yield about $7/share of profit. This is a short idea, but really it could also be a long idea if it clearly moves up from support and confirms a new uptrend.
Spirit AeroSystems (NYSE: $SPR) Uptrend Likely To Continue! 🛬Spirit AeroSystems Holdings, Inc. designs, engineers, manufactures, and markets commercial aerostructures worldwide. It operates through three segments: Commercial, Defense & Space, and Aftermarket. The Commercial segment offers forward, mid, and rear fuselage sections and systems, struts/pylons, nacelles, and related engine structural components; and wings and wing components, including flight control surfaces, as well as other structural parts. This segment primarily serves the aircraft original equipment manufacturers (OEMs) or engine OEMs of large commercial aircraft and/or business/regional jet programs. The Defense & Space segment provides fuselage, strut, nacelle, and wing aerostructures primarily for U.S. Government defense programs, including Boeing P-8, C40, and KC-46 Tanker. This segment also engages in the fabrication, bonding, assembly, testing, tooling, processing, engineering analysis, and training on fixed wing aircraft aerostructures, missiles, and hypersonics works, such as solid rocket motor throats, nozzles, re-entry vehicle thermal protections systems, forward cockpit and cabin, and fuselage work on rotorcraft aerostructures. The Aftermarket segment offers spare parts and MRO services, repairs for flight control surfaces and nacelles, radome repairs, rotable assets, engineering services, advanced composite repairs, and other repair and overhaul services. The company was formerly known as Mid-Western Aircraft Systems Holdings, Inc. Spirit AeroSystems Holdings, Inc. was founded in 1927 and is headquartered in Wichita, Kansas.
+20% profit if you enter on #SPR falling wedge I posted the beautiful falling wedge on #SPR awhile ago . Entry conditions are well known , you enter after the breakout .
For now , i closed my open position although it looks higher but there are many other better patterns in the meantime on other stocks .
Follow me to learn more about falling wedge pattern and other great working patterns in the #Stock-market..
Regards,
Long play on the US China Arms and Space RaceSpirit Aerosystems is a airplane component supplier to Boeing and Airbus. A lot of strong tailwinds for this stock, US-China arms race is a narrative that will get bigger and bigger in the next few years. Growing competition for space, this company will be making parts for air and space craft that havent been imagined yet for years to come