| 
February 26, 2023
A quick look at Friday: after closing the previous trading day at $8.27 and dropping to $7.96, America's 7th largest airline closed Friday at $8.15. By the end of the session, JetBlue gave up a total of 1.45%.
JetBlue Airways Corporation could begin to recover as it approaches significant support, now 13 cents away from $8.02. Dipping below could be an indication that further losses are ahead. JetBlue's lower Bollinger Band® is at $7.82, indicating that the asset has overextended to the downside and could, therefore, bounce back as buyers look for bargains.
Technical analysis shows that JetBlue (currently on a downtrend) might reverse course and start going up in the short term.
JetBlue was not the only decliner in the industrials sector; Boeing closed at $198.15 (down 4.8%). Deere & Company slips 1.8% Friday to close at $425.05. Honeywell International closed at $192.04 (down 1.53%).
Looking ahead, ongoing depreciation may be prolonged as tomorrow at 15:00 UTC data for United States Pending Home Sales will be released, with an expected decline to 1% from the preceding figure of 2.5%.
Some optimism can drawn from the fact that United States Core Durable Goods Orders is projected to outperform its last figure with 0.1%. It previously stood at -0.2%; data will be released tomorrow at 13:30 UTC.
America's 7th largest airline is now trading 33.6% above the significant low ($6.19) it slumped to a month ago.
