Spirit AeroSystems Holdings, Inc., through its subsidiaries, designs and manufactures commercial aerostructures worldwide. It operates in three segments: Fuselage Systems, Propulsion Systems, and Wing Systems. The Fuselage Systems segment develops, produces, and markets forward, mid, and rear fuselage sections and systems primarily to aircraft original equipment manufacturers, as well as offers related spares, and maintenance, repair, and overhaul services. The Propulsion Systems segment engages in the development, production, and marketing of struts/pylons; nacelles, including thrust reversers; and related engine structural components primarily to aircraft or engine OEMs, as well as provides related spares and MRO services. The Wing Systems segment develops, produces, and markets wings and wing components comprising flight control surfaces and other miscellaneous structural parts primarily to aircraft OEMs, as well as offers related spares and MRO services. It also provides military services, such as fabrication, bonding, assembly, testing, tooling, processing, engineering analysis, and training. Spirit AeroSystems Holdings, Inc. serves large commercial airplanes, business and regional jets, and military/helicopter sectors of the aerostructures industry. Spirit AeroSystems Holdings, Inc. is headquartered in Wichita, Kansas.
To review Spirit's stock, please take a look at the 1-year chart of SPR (Spirit AeroSystems Holdings, Inc.) below with my added notations:
After trending higher from August until March of this year, SPR has now been consolidating within a small Rectangle pattern over the last (2) months. A Rectangle pattern forms when a stock gets stuck bouncing between a horizontal support and resistance. For SPR, the Rectangle pattern has formed a $24 resistance (red) and a $22 support (black). A break above $24 would bring the $26 level (blue) back into play as resistance.
The Tale of the Tape: SPR has formed a Rectangle pattern. The possible long positions on SPR would be either on a pullback to $22, or on a break above $24. The ideal short opportunity would be on a break below $22.