A quick look at yesterday: after dropping down to $7.85, America's 7th largest airline recovers some losses and is currently trading at $eight.
Uncertainty around JetBlue Airways is reflected by published market data as United States API Weekly Crude Oil Stock released yesterday at 21:30 UTC with a figure of -6.43 million, while the previous figure was -7.85 million. United States Trade Balance (Oct) came out at -78.2 billion, while a consensus of analysts was expecting -80 billion. Data from United States concerning Exports was released yesterday at 13:30 UTC. Newly published figures emphasized continued decline from last month's figure of 258.5 billion to 256.6 billion this month.
JetBlue Airways Corporation made an initial break below its 10 day Simple Moving Average at $7.87, a possible indication of a forthcoming negative trend. JetBlue Airways's upper Bollinger Band® is at $8.27, suggesting that a downward move may follow. In contrast, JetBlue is approaching key support, around 14 cents away from $7.86. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls.
Despite the market lacking direction, technical chart analysis strongly suggests JetBlue is positioned for a downward move in the near term.
Meanwhile, mixed performances were seen by other industrials stocks as United Parcel Service closed at $175.1 (down 3.35%). Boeing lost 3.6% yesterday and closed at $178.43. Automatic Data Processing went down 2.22%, closed at $264.39.
Data to be released today might clear up some of the market fog as United States Crude Oil Inventories is projected to outperform its last figure with -3.31 million. It previously stood at -12.58 million; data will be released today at 15:30 UTC. As things stand, upcoming United States Initial Jobless Claims data is projected to fall short of market expectations with newly published data of 230,000, following on from the preceding figure of 225,000. New data is set to be published tomorrow at 13:30 UTC.
JetBlue Airways hit a significant low of $6.38 around a month ago, but has since recovered 25.55%.