Jet Blue Airways (JBLU) was down as much as 4% in early morning trading action after it missed on earnings and beat on revenue.
On Thursday morning, JBLU reported earnings per share of $0.32 and total revenue of $1.8 billion, compared to $0.34 and $1.75 billion respectively.
Is Jet Blue a Buy?
This pullback should provide opportunity for active investors.
We like this one. As shown in our analysis of JBLU’s market cycles below, the stock is entering an intermediate support zone. The stock should find a pullback low in the next 2-4 weeks.
Initial support shows up around 20-21.
JBLU Stock Chart (Weekly Bars)
Visit our site for more on our approach to using market cycles to analyze stocks.
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