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Possible Bearish Inside Day Candle Pattern Detected for Jetblue Airways (NASDAQ:JBLU)

By Amy Schwartz

SmarTrend's candlestick scanner has spotted a possible bearish inside day candle pattern in Jetblue Airways (NASDAQ:JBLU) based on the price action in the company's shares. Today's price range of $17.13 and $17.22 is within yesterday's high and low of the day. This trading action often signifies indecision by bulls and bears to drive prices higher or lower and often implies a possible change in trend. Owners of Jetblue Airways may want to consider a possible hedge in the event a pullback occurs. Look for confirmation in the next few trading days.

Over the past year, Jetblue Airways has traded in a range of $15.19 to $20.14 and is now at $17.13, 13% above that low. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.8% while the 200-day MA has remained constant.

There is potential upside of 37.7% for shares of Jetblue Airways based on a current price of $17.13 and an average consensus analyst price target of $23.58. The stock should find initial resistance at its 200-day moving average (MA) of $17.73 and further resistance at its 50-day MA of $18.37.

JetBlue Airways Corporation provides non-stop passenger flight service through its Airbus A320 aircraft. The Company's airline is based in New York's John F. Kennedy Airport and currently flies to various destinations in the United States.

SmarTrend is tracking the current trend status for Jetblue Airways and will alert subscribers who have JBLU in their portfolio or watchlist when shares have changed trend direction.

Keywords: bearish inside day candle JetBlue Airways

Ticker(s): JBLU