JetBlue Airways Corporation Stock Forecast
JetBlue Airways Corporation stock price up 3.31% on Thursday
(Updated on May 02, 2024)
The JetBlue Airways Corporation stock price gained 3.31% on the last trading day (Thursday, 2nd May 2024), rising from $5.59 to $5.77. During the last trading day the stock fluctuated 5.01% from a day low at $5.59 to a day high of $5.87. The price has fallen in 5 of the last 10 days and is down by -18.85% for this period. Volume fell on the last day by -138 thousand shares and in total, 12 million shares were bought and sold for approximately $71.39 million. You should take into consideration that falling volume on higher prices causes divergence and may be an early warning about possible changes over the next couple of days.
The stock is at the lower part of a very wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $5.58 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect JetBlue Airways Corporation stock with a 90% probability to be traded between $5.53 and $7.43 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
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JBLU Signals & Forecast
There are mixed signals in the stock today. The JetBlue Airways Corporation stock holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the stock giving a more negative forecast for the stock. On further gains, the stock will meet resistance from the long-term Moving Average at $6.75. On a fall, the stock will find some support from the short-term average at $5.76. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Wednesday, May 01, 2024, and so far it has risen 3.31%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The stock should be watched closely.
Support, Risk & Stop-loss for JetBlue Airways Corporation stock
JetBlue Airways Corporation finds support from accumulated volume at $5.72 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 $0.280 between high and low, or 5.01%. For the last week, the stock has had daily average volatility of 4.00%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (JBLU) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect JetBlue Airways Corporation to open at $5.74, and during the day (based on 14 day Average True Range), to move between $5.41 and $6.13, which gives a possible trading interval of +/-$0.355 (+/-6.16%) up or down from last closing price. If JetBlue Airways Corporation takes out the full calculated possible swing range there will be an estimated 12.32% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $5.72 (0.87%) than the resistance at $6.10 (5.72%), 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?
JetBlue Airways Corporation holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.475 Sell Candidate Unchanged
Predicted Opening Price for JetBlue Airways Corporation of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $5.74 ( 0.462%) | $5.77 |
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 | |||
|---|---|---|---|---|
| Resistance | R3 | 6.02 | 4.39 % | |
| R2 | 5.92 | 2.54 % | ||
| R1 | 5.85 | 1.39 % | ||
| Current price: | 5.77 | |||
| Support | S1 | 5.64 | -2.32 % | |
| S2 | 5.57 | -3.46 % | ||
| S3 | 5.46 | -5.31 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 7.19 | 24.61 % | |
| R2 | 6.75 | 16.98 % | ||
| R1 | 6.10 | 5.72 % | ||
| Current price | 5.77 | |||
| Support | S1 | 5.72 | -0.87% | |
| S2 | 5.67 | -1.73% | ||
| S3 | 5.58 | -3.29% |
FAQ
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