Gaps closed on the Daily Chart: This is purely a Weekly Trade on JBLU for a close above 11.82 by end of the week.
If using Options you can extend the expiration date out, use vertical spreads, etc. Trade Small and average in, as applicable to your trading plan.
Our back testing has a 5 out of 6 rating; therefore, 83% historical probability of closing above this...
JetBlue Airways Corporation provides air passenger transportation services. As of December 31, 2021, the company operated a fleet of 63 Airbus A321 aircraft, 8 Airbus A220 aircraft, 21 Airbus A321neo aircraft, 130 Airbus A320 aircraft, and 60 Embraer E190 aircraft. It also served 107 destinations in the 31 states in the United States, the District of Columbia, the...
$JBLU has been stuck in a range for about 156 candles or 225 days, and usually, when a stock stays in a range like this for a long time, it will break very hard and aggressive to the upside or downside. Be on the lookout whenever $JBLU breaks out, right now it looks like it might break to the upside, but it can also break to the downside, be cautious when watching...
As mentioned before the airline industry is full of Zombie companies. No pricing power, with a lot more debt.
As shown here
and here
References are always important. :)
This is an easy little short setup with a very well-defined stop.
Bulls want to see this break above falling trendline.
Wait for the break either way.
Jetblue is one of the better managed airlines, routes are mostly demestic so less risk from Covid country closures. US airport traffic returning as there is less fear from Covid compared to last year due. Omnicrom more contagious but low deathrate relative to Delta per data from S. Africa. Be patient as once business travel returns, Jblu will soar. GLTA
Trendline Break
At Resistance Zone
Short Entry 14.9
Stop 16.7
Target 10
Risk management is much more important than a good entry point.
The max Risk of each plan should be less than 1% of an account.
I am not a PRO trader. I trade option to test my trading plan with small cost.
AAL UAL DAL all made triple bottoms followed by a strong rally above the trend line.
Delta variant is on its way out, Vax rates are way up and all the airlines posted excellent numbers.
JBLU is domestic but opening global travel on Nov 8 can only help.
If you see JBLU bounce up off $14 it's very bullish.
$JBLU sandwiched between two fib confluence zones at $15.65 and $14. Watch oscillators to know what will happen at the more significant fib overlaps. Looking bearish now if it runs into $14. More to follow.
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NASDAQ:JBLU appearing to have found a local bottom. Bullish divergence with RSI on timescales of weeks and months. Heavily tested support holding for now, following the break from a strong downward channel.
Strongly correlated with UAL and related transportation & industrial "reopening" stocks. Considering alongside recent positive catalysts, some may see this...
