JETS: Airlines Continue To Underperform, But A Near-Term Takeoff Is Possible

Summary

  • Transport stocks have been relative losers to the Dow Jones Industrial Average - a warning sign to Dow Theory believers.
  • The U.S. Global Jets ETF has struggled in 2022, but shares are near a key spot on the chart and are on breakout watch.
  • With a low valuation and uncertain earnings, it remains a risky play for value investors.
Landing passenger plane during sunset.

Jaroslaw Kilian

The U.S. TSA reports that 2.56 million air passengers flew the friendly skies this past Sunday, the highest figure since 2019. That positive headline did not result in upside price action among the major airline stocks. It was yet another disappointment for those looking

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Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

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