After three days of going up, JetBlue Airways is down 1.15% today

The major low cost US airline drops 1.15% in early trade and remains within touching distance of the $8.05 level.

United States's Crude Oil Inventories new data released of -3.83 million below its previous figure.

Crude Oil Inventories in United States fell short of market expectations (1.87 million) with a reading of -3.83 million, continuing the decline from the previous figure of 7.92 million. New United States Initial Jobless Claims data fell short of the 260,000 projected by analysts with a reading of 264,000 while failing to improve upon the previous reading from last month (264,000).

While price action maintains a negative bias, United States Existing Home Sales (May) released today at 14:00 UTC with a figure of 4.3 million, while the previous figure was 4.29 million.

JetBlue chart analysis: JetBlue Airways Corporation reversed direction at $8 support zone and climbed 5 cents above it. Momentum evaluation shows that the Relative Strength Index indicates JetBlue is in an overbought condition.

JetBlue Airways's stock value drop coincides with after closing the previous session (yesterday) at $212.08, Boeing lost $5.53 and is trading around $206.55. After closing the previous session (yesterday) at $99.07, Raytheon Technologies lost $2.07 and is trading around $97. Caterpillar is trading around $237.48 (down 1.66%).

Furthermore, United States Services PMI is expected tomorrow at 13:45 UTC.

The stock has been trending positively for about 2 months. The past 3 months have been positive for the major low cost US airline as it added 17.12% compared to its 3-month low of $6.19.