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April 14, 2023
A 3 day downtrend has resulted in the asset losing 27 cents. With a marginal improvement upon yesterday's session, without a clear direction, JetBlue Airways closed at $6.95 while ranging between $6.89 and $7.08.
United States Retail Sales is next.
JetBlue Airways's state is reflected by market data as Producer Price Index in United States fell short of market expectations (0.1%) with a reading of -0.5%, continuing the decline from the previous figure of 0%. Data from United States concerning Initial Jobless Claims was released yesterday at 12:30 UTC. Newly published figures emphasized continued decline from last month's figure of 228,000 to 239,000 this month. United States Fed's Balance Sheet released yesterday at 20:30 UTC with a figure of 8.62 trillion, while the previous figure was 8.63 trillion.
JetBlue Airways Corporation made an initial break below its 21 day Simple Moving Average at $6.97, a possible indication of a forthcoming negative trend. Despite this, JetBlue is climbing away and is now 8 cents from the $6.87 support line.
Despite the market lacking direction, technical chart analysis strongly suggests JetBlue is positioned for a downward move in the near term.
Meanwhile, mixed performances were seen by other industrials stocks as Honeywell International traded at $195.9 after closing yesterday's trading day at $193.23 (up 1.38%). Lockheed Martin was up 0.83%.
Data to be released today might clear up some of the market fog as United States Core Retail Sales expected to decline to -0.3% while its preceding data was -0.1%, data will be available today at 12:30 UTC. United States Retail Sales figure is projected at -0.4%. It previously stood at -0.4%; data will be released today at 12:30 UTC.
Having soared to a high of $13.53 approximately 11 months ago, America's 7th largest airline is now trading 48.63% lower.
