A quick look at yesterday: an influx of sellers pushed JetBlue to end the session lower around $7.73, while establishing a $7.72 to $8.08 session range yesterday.
Initial Jobless Claims data from United States will be released today at 12:30 UTC with analysts expecting a decline to 220,000. Potentially significant price fluctuations in JetBlue are expected to follow.
Highly important Crude Oil Inventories data from United States beat analyst expectations of 367,000 with a reading of -3.12 million.
Amid the market gloom, United States Interest Rate released yesterday at 18:00 UTC with a figure of four, while the previous figure was 3.25. United States ADP Nonfarm Employment Change (Oct) came out at 239,000, while a consensus of analysts was expecting 195,000.
JetBlue Airways Corporation made an initial break below its 5 day Simple Moving Average at $7.78, a possible indication of a forthcoming negative trend. Bearish sentiment was sufficient to push prices below the known Fib level of $7.8 serving as intraday support. Despite this, JetBlue Airways could begin to recover as it approaches significant support, now 12 cents away from $7.61. Dipping below could be an indication that further losses are ahead.
Several technical indicators are adding weight to the bearish momentum seen yesterday and forecasting JetBlue Airways to extend its recent losses.
JetBlue Airways was not the only decliner in the industrials sector; United Parcel Service went down to $164.58, losing 1.68% after it closed at $167.4 yesterday. Union Pacific closed at $192.53 (down 2.18%). Caterpillar lost 1.81% yesterday and closed at $214.54.
With markets struggling for positive sentiment, upcoming macro data could potentially attract buyers in the market as United States Non Farm Payrolls expected to decline to 200,000 while its preceding data was 263,000, data will be available tomorrow at 12:30 UTC. Tomorrow at 12:30 UTC data for United States Unemployment Rate will be released, with an expected decline to 3.6 from the preceding figure of 3.5.
Furthermore, United States ISM Non-Manufacturing PMI (Oct) is expected today at 14:00 UTC.
JetBlue Airways is up 25.71% from the significant low of $6.38 it hit 23 days ago.