Trading Idea - JetBlue Airways Broke Resistance, What to Expect?

Published on Wednesday, 01 February 2012 07:20 Written by Christopher Lynn

New York, February 1st (TradersHuddle.com) - Shares of JetBlue Airways Corporation (NASDAQ:JBLU) closed the trading session at $5.92 just above calculated resistance at $5.88 effectively breaking out, grabbing the attention of momentum traders, which could eventually push the stock to different trading range

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.

JetBlue's stock was trading in a well defined range with support at $5.29 and resistance at $5.88, given that this range was broken traders will be closely monitoring the stock