A quick look at yesterday: JetBlue Airways shed 2.3%, falling to $6.79.
United States Core Retail Sales published yesterday at 12:30 UTC came out at -0.8%, falling short of the -0.3% projections and continuing its decline from the previous 0% figure. Following a previous reading of -0.2%, Retail Sales in United States released yesterday at 12:30 UTC fell short of the -0.4% figure expected by analysts with an actual reading of -1%.
While price action maintains a negative bias, United States CFTC S&P 500 speculative net positions released yesterday at 20:30 UTC with a figure of -307,600, while the previous figure was -321,500.
JetBlue Airways Corporation could begin to recover as it approaches significant support, now 8 cents away from $6.71. Dipping below could be an indication that further losses are ahead. Despite being in the red so far in the current trading session, JetBlue peaked above its 21 day Simple Moving Average around $6.96 — typically an early indicator of a new bullish trend beginning to emerge. JetBlue's lower Bollinger Band® is at $6.6, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.
Overall, looking at the technical analysis landscape, it seems JetBlue Airways —which is currently on a downtrend— might reverse course and start pointing upward in the short term.
JetBlue was not the only decliner in the industrials sector; Boeing went down 5.56%, closed at $213.59.
On the other hand, positive performances could be seen by looking at other industrials stocks as United Parcel Service was up 0.98%. General Electric was up 1.21%.
America's 7th largest airline is now trading 48.63% below the significant high of $13.53 it set around 11 months ago.