Shares of JetBlue Airways (JBLU) have been trending down since the end of 2015. We can say that it has been falling in a downwards channel as we an see in the daily chart.JBLU Daily Chart 9/16(click to enlarge)A bullish push:- Price action this week was strong. We saw a bullish engulfing candle bounce off of 16.00. Then price gapped higher and extended above 17.50. - With price around 17.50, JBLU is challenging a falling channel resistance. - There are already signs suggesting JBLU has flattened. A break above the channel resistance opens up a bullish reversal scenario.19.00 is key:- With price finding support just below 16.00, we got a higher low, which breaks the pattern of a downtrend.- If price breaks above 19.00, we would also have higher highs developing. - 19.00 is a key support/resistance pivot. - Therefore, a break above 19.00, with the RSI pushing above 70, would be signs that a bullish trend is developing- Also, on a subsequent pullback, we should anticipate support found in the 16.80-17.00 area. Support here would confirm the bullish scenario. Here's a bullish opinion from Streetinsider.com:Imperial Capital initiates coverage on JetBlue Airways (NASDAQ:JBLU) with a Outperform rating and a price target of $21.00, suggesting ~20% upside.Analyst Michael Derchin commented, "JBLU's stock has lost about a third of its value over the past twelve months, reflecting concerns regarding the potential impact of economic weakness and the Zika virus on travel to Puerto Rico, a core market, and increasing competition in Boston and other key markets, in our view. With the stock trading at 3.7x estimated 2016 TEV/EBITDAR, we believe that Zika concerns are fully priced into the shares, and JBLU can hold its own in competitive battles. JBLU is well positioned competitively, in our view, with the expansion of its popular Mint product to more long-haul markets, including Boston, brand loyalty, and differentiated product. JBLU has been increasing the size of its transcontinental Mint service which now represents roughly one-third of its capacity, up from 20% prior to Mint’s introduction. Florida, a long time core operation, represents about one-third of its capacity, with Fort Lauderdale a strong focus city. JBLU has been downsizing its Caribbean and Latin America capacity, which is now roughly one third of its system, particularly to Puerto Rico and Columbia. While the impact of Zika on bookings is unknown, we expect some passengers to rebook flights to other destinations on JBLU rather than cancel vacation plans entirely, as most leisure travelers purchase tickets well in advance."For an analyst ratings summary and ratings history on JetBlue Airways click here. For more ratings news on JetBlue Airways click here.Shares of JetBlue Airways closed at $17.53 yesterday.