0% commission for ETF tradesJetBlue Airways Corporation Stock Forecast
AI Analysis of JBLU
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JetBlue Airways Corporation stock upgraded from Hold/Accumulate to Buy Candidate after Friday trading session.
(Updated on Sep 13, 2024)
The JetBlue Airways Corporation stock price gained 0.338% on the last trading day (Friday, 13th Sep 2024), rising from $5.92 to $5.94. During the last trading day the stock fluctuated 2.81% from a day low at $5.88 to a day high of $6.04. The price has risen in 7 of the last 10 days and is up by 19.04% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 2 million more shares were traded than the day before. In total, 23 million shares were bought and sold for approximately $135.10 million.
The stock lies the upper part of a very wide and falling trend in the short term, and this may normally pose a very good selling opportunity for the short-term trader as reaction back towards the lower part of the trend can be expected. A break up at the top trend line at $6.21 will firstly indicate a slower falling rate, but may be the first sign of a trend shift. Given the current short-term trend, the stock is expected to fall -12.34% during the next 3 months and, with a 90% probability hold a price between $3.73 and $5.44 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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JBLU Signals & Forecast
Mostly positive signals in the chart today. The JetBlue Airways Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $5.66 and $5.35. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, August 13, 2024, and so far it has risen 29.98%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for JetBlue Airways Corporation stock
JetBlue Airways Corporation finds support from accumulated volume at $5.92 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this stock is considered to be "high risk". During the last day, the stock moved $0.165 between high and low, or 2.81%. For the last week, the stock has had daily average volatility of 5.68%.
The JetBlue Airways Corporation stock is overbought on RSI14 and lies in the upper part of the trend. Normally this may pose a good selling opportunity for the short-term trader, but some stock may go long and hard while being overbought. Regardless, the high RSI together with the trend position increases the risk and higher daily movements (volatility) should be expected. A correction down in the nearby future seems very likely and it is of great importance that the stock manages to break the trend before that occurs.
Our recommended stop-loss: $5.74 (-3.32%) (This stock has high daily movements and this gives high risk. The RSI14 is 84 and this increases the risk substantially. There is a buy signal from a pivot bottom found 24 days ago.)
Trading Expectations (JBLU) For The Upcoming Trading Day Of Monday 16th
For the upcoming trading day on Monday, 16th we expect JetBlue Airways Corporation to open at $5.95, and during the day (based on 14 day Average True Range), to move between $5.65 and $6.23, which gives a possible trading interval of +/-$0.293 (+/-4.94%) up or down from last closing price. If JetBlue Airways Corporation takes out the full calculated possible swing range there will be an estimated 9.88% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $5.92 (0.34%) than the resistance at $6.30 (6.06%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is JetBlue Airways Corporation stock A Buy?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term. We have upgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Buy candidate.
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Current score: 2.962 Buy Candidate Upgraded
Predicted Opening Price for JetBlue Airways Corporation of Monday, September 16, 2024
| Fair opening price September 16, 2024 | Current price |
|---|---|
| $5.95 ( 0.196%) | $5.94 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for JBLU
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 6.12 | 2.97% |
| R2 | 6.05 | 1.91% |
| R1 | 6.01 | 1.26% |
| Price | 5.94 | |
| S1 | 5.89 | -0.86% |
| S2 | 5.85 | -1.52% |
| S3 | 5.79 | -2.58% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 6.66 | 12.12% |
| R2 | 6.41 | 7.91% |
| R1 | 6.30 | 6.06% |
| Price | 5.94 | |
| S1 | 5.92 | -0.337% |
| S2 | 5.68 | -4.38% |
| S3 | 4.80 | -19.19% |
FAQ
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