Investing.com - Financial Markets Worldwide

Airline Stocks Are Being Grounded

ByDragonfly Capital
AuthorGregory W. Harmon
Published 01/07/2014, 12:06 AM
Updated 05/14/2017, 06:45 AM

Outside the weather is so bad and cold that the airlines have grounded their planes for a couple days. And now inside, in the stock market, their stocks are also being grounded.
Copa Holdings
Copa Holdings, (CPA), that services Latin America, even felt the impact. The stock broke out of an ascending triangle higher this morning only to fall back to it to end the day. If it turns out to be a two day grounding ten keep an eye on this one as long as it holds over 160.00.
Jetblue
Jetblue, (JBLU), had been moving higher into the New Year and then it hit a Bat in flight. After reaching the Potential Reversal Zone Friday, it printed a Terminal Price Bar Monday and ran back through over 50% of the pattern. The target of 8.60 (a 61.8% retracement) is not far off now. A hold and reverse there or at the 20 day Simple Moving Average could be a buy signal.
United Continental Holdings
United Continental Holdings Inc, (UAL), also tried to break through the clouds higher only to get pushed back. The move brought the price back into the Bollinger bands, which could recharge it. Look for break and hold over 40.15 as your chance to fly higher.

Disclosure: The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

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