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

By David Diaz

SmarTrend's candlestick scanner has spotted a possible bullish inside day candle pattern in Jetblue Airways (NASDAQ:JBLU) based on the price action in the company's shares. Yesterday's price range of $18.81 and $18.94 is within the prior day'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. Traders and investors interested in shares of Jetblue Airways may want to consider an appropriate entry level in the event a reversal to the upside transpires. It is important to look for confirmation.

In the past 52 weeks, shares of Jetblue Airways have traded between a low of $15.19 and a high of $19.93 and closed yesterday at $19.13, which is 26% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.6%.

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.

Potential upside of 23.3% exists for Jetblue Airways, based on a current level of $19.13 and analysts' average consensus price target of $23.58. The stock should find initial support at its 50-day moving average (MA) of $18.26 and further support at its 200-day MA of $17.92.

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: bullish am inside day candle JetBlue Airways

Ticker(s): JBLU