As of 09/29/2022
  Indus: 29,226 -458.13 -1.5%  
  Trans: 12,258 -199.22 -1.6%  
  Utils: 906 -38.84 -4.1%  
  Nasdaq: 10,738 -314.13 -2.8%  
  S&P 500: 3,640 -78.57 -2.1%  
YTD
-19.6%  
-25.6%  
-7.6%  
-31.4%  
-23.6%  
  Targets    Overview: 09/15/2022  
  Up arrow32,000 or 29,200 by 10/15/2022
  Up arrow13,800 or 11,800 by 10/15/2022
  Up arrow990 or 900 by 10/15/2022
  Up arrow11,975 or 10,700 by 10/15/2022
  Up arrow3,800 or 3,500 by 10/15/2022
CPI (updated daily): Arrows on 9/13/22
As of 09/29/2022
  Indus: 29,226 -458.13 -1.5%  
  Trans: 12,258 -199.22 -1.6%  
  Utils: 906 -38.84 -4.1%  
  Nasdaq: 10,738 -314.13 -2.8%  
  S&P 500: 3,640 -78.57 -2.1%  
YTD
-19.6%  
-25.6%  
-7.6%  
-31.4%  
-23.6%  
  Targets    Overview: 09/15/2022  
  Up arrow32,000 or 29,200 by 10/15/2022
  Up arrow13,800 or 11,800 by 10/15/2022
  Up arrow990 or 900 by 10/15/2022
  Up arrow11,975 or 10,700 by 10/15/2022
  Up arrow3,800 or 3,500 by 10/15/2022
CPI (updated daily): Arrows on 9/13/22

Bulkowski's JetBlue (JBLU) Trading Quiz

Released 11/29/2021.

JBLU: Quiz

Below is a slider quiz to test your trading ability. Captions appear below the pictures for guidance, so be sure to scroll down far enough to read them.

 

1 / 3
chart pattern

What chart patterns can you find? Look for the following (if you find others, great!): 2 head-and-shoulders bottoms, diamond top, ascending triangle, inverted and ascending scallop, descending broadening wedge.

The answer is on the next slide.
2 / 3
chart pattern

Price has gapped lower... (upper right of chart)

Question 1: Do you buy or sell short the stock?
Question 2: What is your price target?
Question 3: What is your stop loss price?
See the next slide for answers.
3 / 3
chart pattern

Answer 1 (buy?): Price has made a new high (A) then formed a lower high (B), one sign of a price reversal. If you draw an up-sloping trendline (C) along the low prices, price has gapped through it. It's time to sell or sell short.

Answer 2 (target?): Find the target price in several ways. You can use the measure rule for trendlines. Another method is to find underlying support. I show a meager level with the red horizontal trendlines. Another method is to measure the rise from D to A and then compute a Fibonacci retrace of that amount. D and A were chosen because they are turning points. The 38% retrace level is in the middle of the horizontal red lines, about 38.50. The 50% retrace is at 36 while the 62% retrace is at 34.

Answer 3 (stop?): If you shorted this stock, a good stop price would be above B, the high at 47.74 (not adjusted for splits).

You can see that price continued down. The point of this quiz is to use trendlines as sell signals. They are one of my favorite tools, especially for short-term trades where a bearish chart pattern may not appear.

When price plunged through the 62% Fib retrace line, that confirmed the downward move. Notice how the 62% level acted as support in November.

The End.

See Also

 
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My novels:  Bedroom to Boardroom book Remember Me book Bumper's Story book Head's Law book
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