22nd-April-2011–Pattern Study–Control… JetBlue request for landing

Ticker:

 

1. JBLU

 

Topic:

 

1. Jet Blue Airway is not flying.
2. Zig-zag confusing chart pattern.

 

Lesson Learnt:

 

1. Intraday price is heavily blocked by trend line.
2. Daily chart shows strong resistance at the trend line. Price now below  all MA lines.
3. Yesterday daily chart shows that it break down from the support line even the open is high.
4. Weekly chart shows zig-zag chart pattern. Hard to trade. Price is also below all MA lines with no clear support line.
5. No good reason to go long for this stock. In fact, it looks more like good to short now.
6. Petrol is also going higher now. This will be bad for airlines.

 

Intraday Chart

Historical Chart