With oil prices declining and potentially forming a daily bearish flag, JBLU is set to take advantage of falling oil prices. I'm looking to enter long if the stock can manage to stay above my "Entry Level". If triggered, I will then place a stop-loss at the "SL" line. If it eventually reaches my Take Profit target (TP) I will then sell half my position and utilize the 8-EMA as my trailing stop. This setup will remain valid for five trading days or until it closes below the "SL", whichever comes first.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.