The airline Industry group pulled back quite hard in the second quarter. However one airline company bucked the trend and forgot to pullback. JetBlue (JBLU) just keeps on climbing bottom left to top right. A steady ascent is a comfortable ride for investors as well.
As long as JBLU continues to outperform the market, this has all the traits of flying at 38000 feet. Smooth and comfortable. It also continues to outperform its peers which is an even bigger accolade in a tough business. We can see the SCTR at the top of the chart does a good job holding up to the flight plan. If I have one concern the volume is low in August, but that is always a problem in the summer months. This airline is not showing any traits of losing altitude currently other than some small divergences on the MACD making lower highs from a very high level.
Good trading,
Greg Schnell, CMT
