Spirit Airlines Incorporated (NASDAQ: SAVE)

Spirit Airlines, Inc. provides low-fare airline services. As of June 30, 2015, it operated approximately 360 daily flights to 57 destinations in the United States, Caribbean, and Latin America. As of December 31, 2014, the company had a fleet of 65 Airbus single-aisle aircraft comprising 29 A319s, 34 A320s, and 2 A321s.
Take a look at the 1-year chart of Spirit (NASDAQ: SAVE) below with my added notations:

SAVE has formed a key price level at $60 (red) over the last two months. In addition, the stock created a down trending resistance starting from the middle of May (green). These two lines combined had SAVE stuck trading within a common chart pattern known as a descending triangle. At some point, the stock had to break support or break its string of lower highs, and last week the stock broke support.

The Tale of the Tape: SAVE broke out of a descending triangle pattern. A short trade could be made on a rally up to $60 with a stop placed above that level. A break back through $60 would set up a potential long trade, and another long could be made on a break through the downtrending resistance.