Major Airline Index April 28th

Major Airline Index April 28th

I have a growing list of short trade candidates on my watchlist which look poised for a decent correction. I plan to refine the list and post some of the more promising trade ideas on the site later today but until then, here are a few that stand out (all daily time frames). (note: I have NOT scrubbed any of these stocks for earnings. Always a good idea to refrain from opening a new swing trade position just before they report earnings.)

JBLU- Currently clinging to the bottom of a steep bearish rising wedge pattern. I posted the chart before the close yesterday so I can be clicked & expanded in the Twitter feed on the left side of the home page of the site.

RJET: Broke down below the uptrend line off the April 2014 lows yesterday.

ALK: Backtesting a minor uptrend line from below (line starts around the late November prices & undercuts all the lows from that point until the late March breakdown).

HA- Just backfilled the big Jan 30th gap yesterday, offering an objective short here with stops somewhat above yesterday’s highs.

LUV- Just above a long-term trendline generated off the Aug 2013 lows following the recent divergent high.

ALGT: Bear-flagging following a steep uptrend line break.

SAVE: At the top of a symmetrical triangle pattern.


Also make sure to check out the new list of commission free ETFs located on the sidebar on the right side of the ETF Center (available via the main menu at the top of the site).