Is jet blue good to buy now for day trading
7/15/2024 08:46am
**JetBlue (JBLU) may not be a suitable stock for day trading at the moment**. Here's why:
1. **Lack of Recent Momentum**: The stock's MACD is at 0.05, which is close to the neutral zone, indicating a lack of momentum that could be necessary for successful day trading.
|Ticker|Name|RSI|MACD|KDJ|Date|code|market_code|
|---|---|---|---|---|---|---|---|
|JBLU.O|Jetblue Airways|68.0699|0.0483|75.9349|20240712|JBLU|185|
2. **High RSI**: The stock's RSI is at 68.07, which is close to the overbought threshold of 70. This suggests that the stock may be overextended and could be due for a pullback, which is not ideal for day trading.
|Ticker|Name|RSI|MACD|KDJ|Date|code|market_code|
|---|---|---|---|---|---|---|---|
|JBLU.O|Jetblue Airways|68.0699|0.0483|75.9349|20240712|JBLU|185|
3. **Recent Performance and Analyst Sentiments**: The stock has experienced a significant decline, and analysts have given a consensus rating of "Hold" with an average price target of $5.92, which is below the current price. This suggests that analysts do not see a significant short-term upside potential.
4. **Financial Performance**: The company has reported a net loss and a negative diluted EPS for the last quarter, with a year-on-year net income growth rate of -272.92%. This indicates that the company is facing significant financial challenges that could impact its stock price.
|Ticker|Name|Total Revenue|Net Income|Diluted EPS|Date|code|market_code|
|---|---|---|---|---|---|---|---|
|JBLU.O|Jetblue Airways|2.209E9|-7.16E8|-2.11|2024 Q1|JBLU|185|
5. **Market Sentiment**: The Fear & Greed Index is at 39 (Fear), which suggests that investors are cautious and may be more likely to sell than buy. This sentiment further supports the idea that day trading might not be favorable at the moment.
In conclusion, given the lack of recent momentum, high RSI, negative analyst sentiments, poor financial performance, and overall cautious market sentiment, JetBlue may not be a suitable stock for day trading at the moment. It is advisable to consider other stocks or to wait for a more favorable market condition before engaging in day trading.