The markets fell hard today (April 18) but JetBlue (JBLU) managed to swim against the current. Trading around the $5.50 range, investors don’t seem to want to let this stock’s price slip any further. JBLU hasn’t dipped significantly below its current price since early 2010. It has, however, touched this price and rebounded wonderfully three times in the last calendar year (see below).
Will it rebound again? We shall see. There is some strong supporting evidence that it will. The stock’s fundamentals are great, low P/S, low P/B, low Forward P/E, etc. etc. Also, JetBlue’s technicals on daily charts show signs of a rebound to come. As long as this stock doesn’t slip below resistance it could take off once again.