Long Position on SAVE @ $59.50 on 3/11/2014 (Momentum)

Spirit Airlines (SAVE) provides low-fare airline services.

It operates approximately 250 daily flights to 50 destinations in the United States, Caribbean, and Latin America. As of December 31, 2013, the company had a fleet of 54 Airbus single-aisle aircraft comprising 29 A319s, 23 A320s, and 2 A321s. 

As of December 31, 2012, its route network included 110 markets served by 52 airports throughout North America, Central America, South America and the Caribbean.

During the year ended December 31, 2012, it operated international service to Aruba, the Bahamas, Colombia, Costa Rica, Dominican Republic, El Salvador, Guatemala, Haiti, Honduras, Jamaica, Mexico, Nicaragua, Panama, Peru and St. Maarten, as well as Puerto Rico and the United States Virgin Islands. The Company also sells mileage credits to companies participating in the FREE SPIRIT program.

Shares have formed a bullish "cup and handle" and higher share prices are expected for this stock.

52-Week Trading Range: $23.04 - $60.33

Entry Point: $59.50

Stop Loss: $56.50

Target Price: $65.50

Updates

3/31/2014 12:08:32 PM

We are closing SAVE position at a break even ahead of an expected market sell off.

Position closed on 3/31/2014 at price of $59.50 with a 0.00% gain in 20 days.

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