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

By Shiri Gupta

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. Today's price range of $22.79 and $22.93 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. 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.

JetBlue Airways Corporation provides low-fare, nonstop 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.

There is potential upside of 9.5% for shares of JetBlue Airways based on a current price of $22.84 and an average consensus analyst price target of $25.00. The stock should find resistance at its 200-day moving average (MA) of $22.93, as well as support at its 50-day MA of $20.58.

JetBlue Airways share prices have moved between a 52-week high of $27.36 and a 52-week low of $14.76 and are now trading 55% above that low price at $22.84 per share. Over the last five market days, the 200-day moving average (MA) has gone down 0.3% while the 50-day MA has declined 1.1%.

SmarTrend recommended that subscribers consider buying shares of JetBlue Airways on April 10th, 2017 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $21.18. Since that recommendation, shares of JetBlue Airways have risen 7.6%. We continue to monitor JBLU for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: bullish inside day candle JetBlue Airways

Ticker(s): JBLU