A quick look at today: after closing at $6.85 on yesterday, JetBlue rallied as high as $7.14 but ended the day at $7.
Meanwhile, United States API Weekly Crude Oil Stock released today at 20:30 UTC with a figure of -1.27 million, while the previous figure was 7 million. United States TIC Net Long-Term Transactions (Aug) came out at 197.9 billion, while a consensus of analysts was expecting 28.2 billion. United States Industrial Production beat the 0.1% projections, with 0.4%.
Despite posting gains on today, JetBlue Airways Corporation slid below its 21 day Simple Moving Average at $6.92 during the last session — an early indicator that a negative trend could be emerging. JetBlue Airways could be slowing down soon; it is getting close to the resistance line and is now at $7.21, only 23 cents away. Crossing the resistance line could, however, suggest that further gains are ahead.
After posting consistent gains as part of its uptrend and being lifted by intraday sentiment, technical factors suggest JetBlue is set for a reversal in the coming days.
This rally in JetBlue's share price coincided with other industrials stocks as Lockheed Martin added 8.69% to its value, and traded at $431.84. Raytheon Technologies traded at $87.36 after closing today's trading day at $84.47 (up 3.42%). Deere & Company traded at $371.31 after closing today's trading day at $362.59 (up 2.4%).
Furthermore, the market is looking at United States Crude Oil Inventories projected to come out at 1.55 million — worse than previous data of 9.88 million; data will be released tomorrow at 14:30 UTC.
Elsewhere, United States Building Permits (Sep) is expected tomorrow at 12:30 UTC.
On a negative trend for around a month. 7 days ago, JetBlue Airways fell to a low of $6.38 but has since recovered 7.37%.