America's 7th largest airline drops 2.26% in early trade and remains within touching distance of the $7.8 level.
JetBlue Airways Corporation made an initial break below its 21 day Simple Moving Average at $7.84, a possible indication of a forthcoming negative trend. Despite this, JetBlue Airways could begin to recover as it approaches significant support, now 1 cents away from $7.79. Dipping below could be an indication that further losses are ahead.
Overall, looking at the technical analysis landscape, it seems JetBlue is likely to continue pointing down in the short term.
In the meantime, negative performances are also seen in other industrials stocks as Boeing is trading around $173.89 (down 2.51%). Automatic Data Processing is down 1.16% from the beginning of the session and now trades around $260.9. United Parcel Service is down 0.83% from the beginning of the session and now trades around $181.
With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as as things stand, upcoming United States Consumer Confidence data is projected to fall short of market expectations with newly published data of 100, following on from the preceding figure of 102.5. New data is set to be published tomorrow at 15:00 UTC.
Having set a significant low of $6.38 a month ago, America's 7th largest airline is trading 25.08% higher.