Airline Stocks Wrap Up - Higher: JBLU, LCC, TAM

Published on Thursday, 22 July 2010 17:02 Written by Danny Miller

New York, July 22nd (TradersHuddle.com) - The NYSE Airline index ended the session higher by closing at $39.57, which represents 4.28% versus previous day close. The airline index had a broad rally with 13 out of 13 airlines trading higher.

JetBlue Airways (NASDAQ:JBLU) was the top performer of the sector today closing at $6.38 representing 8.5%. versus the previous trading session. Shares of JetBlue Airways, the New York based discount airline have defined support at $5.57 and resistance at $6.41.

US Airways (NYSE:LCC) was also among the top performers, closed the trading session at $9.85 representing 6.95% from its previous close. US Airways, the Phoenix based airline has calculated support and resistance levels at $8.05 and $9.65 respectively. The other top performer was Tam (NYSE:TAM), which closed the trading session at $16.37 representing 5.48% from the previous trading session.

The sector's worst performers include Ryanair (NASDAQ:RYAAY) that closed the trading session at $30.59 or 1.63% from the previous close. Shares of Ryanair, the low fare European airline have defined support at $26.63 and resistance at $30.29. Also among the worst performers was Lan Airlines (NYSE:LFL), which closed the trading session at $23.02 representing 2.27% from the previous trading session.

Benchmark crude for August delivery was flat closing the trading session at $77.44 a barrel on the New York Mercantile Exchange flat by $0 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.