Potential Long on JetBLue JBLU
Updated
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 possible divergence.
6. The MACD is below 30. (Sign price is oversold).
Negative Confluences:
1. OUR OBV line is showing a decline in buying volume.
2. Price is still outside the lower, longer (pre-Covid) trend zone.
Fundamental Analysis:
1. Earnings expected first week of August. (Price typically declines into earnings).
2. Earnings report for 2nd quarter includes months prior to economic opening. (Earnings may be lower.)
3. Operating Income negative year over year
4. Gross profit change from previous years same quarter show significant loss
5. Economic reports show record travel numbers from July 4th
6. Economy nearly fully opened since roughly June
7. JBLU to start flights from NY to UK in August.
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 possible divergence.
6. The MACD is below 30. (Sign price is oversold).
Negative Confluences:
1. OUR OBV line is showing a decline in buying volume.
2. Price is still outside the lower, longer (pre-Covid) trend zone.
Fundamental Analysis:
1. Earnings expected first week of August. (Price typically declines into earnings).
2. Earnings report for 2nd quarter includes months prior to economic opening. (Earnings may be lower.)
3. Operating Income negative year over year
4. Gross profit change from previous years same quarter show significant loss
5. Economic reports show record travel numbers from July 4th
6. Economy nearly fully opened since roughly June
7. JBLU to start flights from NY to UK in August.
Note
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