JetBlue Airways

Last up is $2.5 billion airline stock JetBlue Airways (JBLU). JetBlue has enjoyed some impressive price action in the last six months, rallying more than 30% on the heels of a broad boost across the whole airline industry. But, like Nokia, JBLU is starting to look "toppy" here.

JetBlue is another head and shoulders trade, in this case with a neckline at $8.25. While that $8.25 price level hasn't been violated yet, shares are close enough that it's worth watching closely in the market sessions ahead. Otherwise, if shares can manage to break through the top of the pattern, the bearish overtones get invalidated. That's why it's critical not to be early on the trade.

To see this week's trades in action, check out the Toxic Stocks portfolio on Stockpickr.

-- Written by Jonas Elmerraji in Baltimore.

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At the time of publication, author had no positions in stocks mentioned. Jonas Elmerraji, CMT, is a senior market analyst at Agora Financial in Baltimore and a contributor to TheStreet. Before that, he managed a portfolio of stocks for an investment advisory returned 15% in 2008. He has been featured in Forbes , Investor's Business Daily, and on CNBC.com. Jonas holds a degree in financial economics from UMBC and the Chartered Market Technician designation. Follow Jonas on Twitter @JonasElmerraji

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