$JETS - RC -
Added 2023-11-27 03:07:02 +0000 UTC$JETS ETF is made up of:
01. Top 4 U.S. Airlines
The top 4 American airlines based on a combined ranking of market capitalization, average dollar value traded and passenger load factor each receive a 10% weighting.
02. Next 8 U.S. or Canadian Airlines
03. Next 8 U.S. or Canadian Companies
04. Top 10 International Companies
05. Next 20 International Companies
So this is a wide range of airlines and not just the Top 4 in the US.
That being said, a lot of the airlines follow each other but the risk is spread out here across the sector which is not a bad thing.
Some parts of the world will be experiencing a boom in travel, while other parts struggle but generally, the demand for travel globally continues to rise.
On the chart, I like the potential double bottom here, circled in white.
Also holding the 0.78 Fib level, if the price action can continue to hold this level, we could be moving into Wave 3 next, with a target at the 1.618 Fib at $44.
We want to see a higher high next above $23 to confirm the impulse wave.
Comments
I like the look of it
Gareth Neary
2023-11-27 04:58:57 +0000 UTCGreat work! Gonna buy calls on this and swing it to march
alexkim1211
2023-11-27 04:08:07 +0000 UTC
