JetBlue Airways near Support

Published on Wednesday, 18 January 2012 19:16 Written by Christopher Lynn

New York, January 18th (TradersHuddle.com) - Shares of JetBlue Airways Corporation (NASDAQ:JBLU) ended close to calculated support at $5.15 with current price action placing the stock near levels that will raise attention of traders looking for an entry point.

JetBlue's current stock range is defined by current calculated support defined at $5.15 and by the resistance level at $5.93, which could be used as a reference by traders planning their trades. The area defined as calculated support, is where buying might materialize, which could provide a lift to shares of JetBlue Airways Corporation. However, this area if breached will signal participants that the stock failed to entice buyers to step in and support the stock.

Traders wanting to establish a position should pay close attention to JetBlue's price action, and establish a position as close to support as possible, but only after buying materializes. Traders should understand that the resistance point at $5.93 might limit their upside, however if the stock breaks resistance, it could be a good point to add to the position.

Shares of JetBlue Airways Corporation closed at $5.38 in the previous trading session.

JetBlue Airways Corporation (NASDAQ:JBLU) provides nonstop passenger flight service.The airline is based in New York and uses John F. Kennedy Airport as its main hub. The company flies to various international destinations and in the United States.