Looking at the weekly chart, recent price action has shown...

Looking at the weekly chart, recent price action has shown promising signs against the descending upper trendline (yellow line). The signs include a:

• first (intraweek) trade above the trendline, which was three weeks ago ^[1]
• first weekly close above the trendline, which was two weeks ago ^[2]
• first full week of trading above the trendline, which was last week ^[3]
• third consecutive week of trading volumes over 5 million ^[4]

Aside from charts, the operational side of things is delivering as well. I noted this anecdote from MD Sol Lukatsky in the recent segment from The Market Herald:

"We were up against one of the majors [telcos] last week. The lead came in on a Tuesday, The other organisation was still service qualifying it, wanted three months to deploy it. By the following Tuesday, which was five days later, we [Spirit] had a 1 gig/1 gig service providing incredible speeds to 400-500 employees in Melbourne."

Spirit advertises itself as a catering to small-to-medium sized businesses, but note that the Australian Bureau of Statistics defines "a medium business as an actively trading business with 20–199 employees, and a large business as an actively trading business with 200 or more employees".

So based on that definition, Spirit is scaling up to large businesses as well.