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January 9 Chart of the Day - Jet Blue

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Bloomberg is reporting that JetBlue Airways Corp. (JBLU) Chief Executive Officer Robin Hayes will step down next month after leading the carrier through a recent failed partnership with one airline and the pending acquisition of another.

Stating personal health reasons the CEO will be replaced by Joanna Geraghty, 20 year Jet Blue employee and the company's current president.

Amid all the turbulence during the last year the company's stock was down well over a third and fell another 10% to $5.15 earlier today.

Price made a 10+ year low a few short months ago at $3.40 so we wanted to take a look at the chart from a price action technical analysis perspective.

On the monthly chart we can see the extreme volatility over the years and the recent flirtation with all time lows, which technically speaking are still in play.

We once had a mentor that would frequently say "They can only go to zero..."

On the weekly chart we can see the recent trend change by the series of higher highs and higher lows.  But the question remains will it be sustainable long term and is today's drop just part of a normal bull retracement or are the bears going to push price down even lower.

Only time will tell for sure but we've identified bi-directional price levels of interest from which traders and investors can formulate their respective plans.

So what's next? 

We don't make predictions...

Nobody knows for sure but using these 5 price action tools traders and investors can develop levels of interest in both directions.

  1. Support/Resistance
  2. Trend
  3. Fibonacci 
  4. Supply/Demand Zones,
  5. Change Control Zones

Take a look at the charts and let us know what you think.  

We'd like to hear from you in the comments sections.

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