Sector Wrap Up - Arlines Higher: UAUA, JBLU, LCC

Published on Friday, 12 March 2010 17:52 Written by Gerard Lerod

New York, March 12th (TradersHuddle.com) - The NYSE Airline index ended the session higher by closing at $38.356, which represents 0.49% versus previous day close. The airline index was mixed with a slight upside bias with 8 out of 13 airlines trading higher.

UAL (NASDAQ:UAUA) was the top performer of the sector today closing at $19.68 representing 2.66%. versus the previous trading session. UAL Corporation, the owner and operator of the Chicago baed airline and member of the Star Alliance, shares have defined support at $17.49 and resistance at $19.29.

JetBlue Airways (NASDAQ:JBLU) was also among the top performers, closed the trading session at $5.41 representing 2.46% from its previous close. JetBlue Airways, the New York based discount airline has calculated support and resistance levels at $5.08 and $5.47 respectively. The other top performer was US Airways (NYSE:LCC), which closed the trading session at $7.95 representing 1.4% from the previous trading session.

The sector's worst performers include AMR (NYSE:AMR) that closed the trading session at $9.95 or -2.07% from the previous close. AMR,  the owner and operator of the 2nd largest U.S. based airline and founder member of the Oneworld airline alliance shares have defined support at $8.93 and resistance at $10.50. Also among the worst performers was Linhas Aereas Inteligentes (NYSE:GOL), which closed the trading session at $13.64 representing -1.59% from the previous trading session.

Benchmark crude for April delivery was lower closing the trading session at $81.23 a barrel on the New York Mercantile Exchange lower by $-0.88 from the previous trading session. Crude prices are closely watched by traders as they usually correlate with the airline stocks, given that a big component of the airlines' cost structure is covered by the price of fuel.