RJET daily May 8th Following the backtest of the broken uptrend line on April 28th, RJET (Republic Airways) took a nose-dive to the sole profit target for a quick 11-12% gain in just 5 trading sessions. As this was the sole price target, RJET will now be moved to the Completed Trades category where this as well as all previous notes & charts on the trade will be archived indefinitely for future reference.
RJET daily April 29th RJET (Republic Airways) was one of several airline shorts mentioned yesterday while trading just below the uptrend line. The stock still offers an objective short entry here with a sole price target (at this time) just above the 11.45 support level (suggested buy-to-cover limit order at 11.56).
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 [...]
i recently mentioned reversing the airline short trade as FAA and most of the individual airline shorts had hit their targets for some really nice quick gains. RJET hit it's final target (T2) on 3/20 for a 26% gain and today it has taken out this downtrend line, which should give it an additional boost. as i go thru the charts today, i'll try to i.d. some object bounce targets for anyone who reversed any of the trades or waited on took the as longs off support (the short targets). charts in order as posted...
RJET is quickly approaching T1 and is now a 21.5% gainer from entry (at LOD so far of 4.82 vs. T1 of 4.77) so consider taking partial/full profits here. as i often post, i prefer setting my closing trade orders just above support(targets) on shorts and vice-versa for longs. how far i cover above a target is also commensurate with the scope of the move and with this move being fairly large for only a first target, 5 cents away from the target is more than close enough so consider T1 hit for all intents and purposes. congrats to those who [...]
virtually identical chart and notes to the DAL short so see that post below if you took the RJET short. targets are market and still has a way to go but be aware of the potential bull-flag that has formed on these two airline stocks. conservative traders might want to tighten up on the stops to protect profits.