Close to the 200 Day Moving Average: JetBlue Airways
Published on Tuesday, 19 June 2012 07:56 Written by TradersHuddle Wire
New York, June 19th (TradersHuddle.com) -JetBlue Airways Corporation (NASDAQ:JBLU) closed the trading session at $5.05 near its 200 day moving average set at $4.81. JetBlue's price action is just above this key support level, grabbing traders' attention for a possible trading opportunity.
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.
The latest price action range, defined by a peaks and troughs algorithm, places calculated support at $4.91 and resistance at $5.34. These levels will provide insight for the stock's latest price dynamics.
Traders wanting to establish a position on JetBlue Airways will look for evidence of buying near the 200 day moving average, before opening the position as close as possible to this key technical level. Also, they need to consider the latest range defined by the calculated support and resistance levels for insights on other key levels that might have an effect on future price movements.
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