[edit] Doggone it, I forgot to protect the post. I’ll leave it as is.
It’s back in the hangar for repairs. JBLU has tanked from resistance and pulled back to retrace 50% of the rally. I added it today but a trader might want to wait for the support area noted at the 62% Fib retrace level around 10.50.
Those are the Fibs shown at right for the pullback. The Fibs on the left show that JBLU has already retraced nearly 62% of the March crash and in hitting the SMA 200 may not have more upside. I bought it more as a ‘world’s not ending’ stock than as a strict trade. But even if it’s seen its highs a buy at 10.50 could work well (with a stop below the SMA 50).
A reminder that chart based NFTRH+ updates are technical trade setup ideas, which may not be revisited as the technical parameters are already noted. These updates are meant as a starting point for your further research if interested. I will not personally buy every item highlighted and will sometimes sell (ref. Trade Log) any item that I do buy below target (assuming I’ve not stopped out or sold for some other reason) as I often do. Also please be aware that I am not a fundamental stock analyst. Due diligence is your responsibility.
