Investors and traders be aware, there is a technical swing trade buy alert that triggered on Spirit Airlines Inc (SAVE). It triggered based on an extreme oversold condition, a time count and a technical support level from 2012 being hit at $24.15. Expect a near-term sharp bounce as high as $30.00 from the current level. That is a potential 25% return.

Shares of Spirit Airlines Inc have dropped from over $47.00 in just the last three weeks because of the coronavirus and its impact on travel. Investors are fearing the worst, but ultimately that gives level headed investors a great opportunity. Fear is the most powerful emotion and it creates extreme sells on stocks. Even if there is near-term pain, by summer the coronavirus should subside and travel resume at normal levels, that means Spirit Airlines could see full flights again and a normal schedule in just 3 months. The share price will likely react even sooner than that.

This swing trade buy alert is based on technical analysis but also takes into account smart, logical trading. This is a swing trade, not a long term investment alert.

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