JetBlue May Fly Higher

When analyzing technical patterns and price performance understanding the entries that will provide the best probability is most important. Jetblue Airways Corp. moved higher last week closing at $6.11. Any good trader knows not to chase a stock that has run higher in a small amount time or go short when a significant move lower has occurred. Amateurs chase and always get burned. The JBLU chart may appear extended, however, it presents an opportunity for those with the ability or knowledge to play it properly.


Allow me to explain very simply: JBLU made a pivot low on May 6th which was a clear long entry and my subscribers profited from that move as well as the following short level. Since May 6th the stock has made a series of higher lows. Higher lows will often lead to higher prices despite the multi-month higher trading range. Traders should look for a possible short consolidation in the morning, this will present an entry point at or under $6.00. The first near term profit taking area will be the $6.50 level on the daily chart. Should the stock move higher then $6.50 then the weekly profit taking level of $7.00 will come into play. Pro traders will consider selling half of their position and $6.50, move their stop slightly in the money at that point and hold the rest for the higher resistance level of $7.00. The weekly chart support level will be $5.25. Should JBLU move lower then this level stop losses should be executed and the old support will be considered resistance. Join the Insider Report to get in-depth analysis on what the pros are trading now!