Monthly timeframe displaying bull and bear cycles
This current bull cycle could lead to fast extended gains if the assumption that the small price range has a bullish "squeezing" effect on price.
A head and shoulders pattern is within this small range
Recognizing multiple Technical confluences for a potential move long on JBLU
1. We see price following the trend that existed prior to Covid
2. The 100 EMA has dipped below the 200 EMA (sign price may be reversing current trend.)
3. Price has entered a significant Demand Zone
4. Price is respecting the trend lines since the Covid dip
5. The RSI is displaying...
The current fair value of the stock based on Buffets equation is just over $40 meaning there is a lot of room for the stock price to grow. Earnings was stong and price tested the new resistance of $20 and looks to be testing to make new highs currently. Looking for potential pullback or rejection of next level to enter in on a lower price.
