Airlines Have Been Grounded!

• Posted by Greg Harmon
• on January 6th, 2014

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, $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, $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, 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.

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