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May 03, 2023
JetBlue recovered from the previous trading session's losses and went up to $7.1 yesterday after it traded lower at $6.86.
- United States ADP Nonfarm Employment Change (Apr) is next today at 12:15 UTC.
- JetBlue Airways has increased a total of 27 cents over the past 9 days, with yesterday's session contributing to the uptrend.
Earlier data releases related to JetBlue Airways – United States JOLTs Job Openings (Mar) came out at 9.59 million, while a consensus of analysts was expecting 9.78 million. United States API Weekly Crude Oil Stock released yesterday at 20:30 UTC with a figure of -3.94 million, while the previous figure was -6 million.
Here is the technical analysis of JetBlue Airways before macro data is released:
JetBlue Airways Corporation could be slowing down soon as it approaches resistance at $7.18. Of course, crossing it might suggest further gains are ahead. Despite posting gains on yesterday, JetBlue slid below its 21 day Simple Moving Average at $6.97 during the last session — an early indicator that a negative trend could be emerging. Bollinger Band® analysis indicates that current price action is approaching the upper band at $7.2, thereby suggesting that JetBlue Airways is becoming overvalued.
After posting consistent gains as part of its uptrend and being lifted by intraday sentiment, technical factors suggest JetBlue Airways is set for a reversal in the coming days.
Coming up for JetBlue Airways — United States Crude Oil Inventories is projected to outperform its last figure with -1.1 million. It previously stood at -5 million; data will be released today at 14:30 UTC. United States Interest Rate is expected today at 18:00 UTC.
As the markets get ready for more data to be released — United Parcel Service went down 2.39%, closed at $182.2. Lockheed Martin went down to $458.89, losing 2.25% after it closed at $469.43 yesterday. Raytheon Technologies went down to $98.87, losing 1.46% after it closed at $100.33 yesterday.
The stock has been trending positively for about a month. America's 7th largest airline is now trading 23.12% below its 3-month high of $11.46.
