SPIRIT AIRLINES, SAVE: LONG

26 Haz 2020

The airline stocks took a big hit yesterday after Gov. Cuomo said visitors from highly infected states would be expected to quarantine themselves for 14 days once arriving in New York. However, today we made a decent bounce back off of previous support forming a double bottom. I am worried about this second wave of Covid cases spreading across the country, but all in all I think airports are a pretty safe place thanks to the safety procedures put in place. The number of daily flyers has been steadily increasing and I think technical analysis is on our side here. I recommend using proper risk management and avoid using margin to buy this stock while its so volatile. Let me know your thoughts.