Wednesday 23 Jul 2014

JetBlue Airways Corporation And Synovus Financial Corp Pullback Smartly

New York, NY – (NISMAGAZINE) – 05/13/2014 – JetBlue Airways Corporation (NASDAQ:JBLU) has been in a strong uptrend right from the time it hit an intra-day low at $7.62 which saw the stock slide below its important support zone at the 200 day moving average. The stock saw a strong pull back once it breached and closed above its 200 day moving average at $7.92. The stock in yesterdays’ trading session saw strong price action forming a bullish engulfing pattern. The stock also on the back of the price action saw itself close above the 50 day moving average and we believe that the stock can head higher in the near term.

The stochastic oscillator for the stock has shown no signs of weakness and has given a fresh buy signal which confirms our bullish stance. The momentum indicator for the stock has also given a fresh buy signal which confirms to us that the momentum has clearly shifted to the buy side in the near term.

Is JBLU a solid investment at these levels? Find out here.

Synovus Financial Corp. (NYSE:SNV) on the daily charts has seen some amount of pull back on the daily charts, but we believe this might just be a dead cat bounce and should be used by traders to short the stock. One of the biggest reasons for our bearish call is the formation of a death cross on the daily charts which have seen the 50 day moving average cross over the 200 day moving average from above. We believe traders can remain short on the stock with a strict stop loss at $3.35 and can see targets of $3.12 to $3.00 in the very near term.

The stochastic oscillator for the stock has shown the negative divergence on the daily charts which adds conviction to our sell call. The momentum indicators are still exhibiting bearish momentum confirming to us that selling pressure might continue on the stock in the near term.

How Should Investors Trade SNV Now? Find out here.

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