| 
June 11, 2023
After ending Thursday at $7.42, JetBlue rallied to $7.55 Friday, hitting its highest point in 2 months. It later lost 8 cents and closed at $7.47.
JetBlue Airways Corporation made an initial breakout above its 200 day Simple Moving Average at $7.46, a potential indicator of a newly emerging bullish phase. On the other hand, note that Bollinger Band® analysis indicates that current price action is approaching the upper band at $7.57, thereby suggesting that JetBlue is becoming overvalued. JetBlue Airways broke through the $7.55 resistance and climbed 8 cents above it.
According to technical analysis, it looks as if JetBlue likely to continue pointing upward in the short term.
While JetBlue was bullish Friday, the following industrials stocks underperformed: United Parcel Service went down to $170.49, losing 0.58% after it closed at $171.48 Friday. Union Pacific descends 0.66% Friday to close at $201. Deere & Company went down 0.5%, closed at $380.77.
The stock has been trending positively for about 2 months. America's 7th largest airline has recovered 19.87% since descending to a significant low of $6.19 around 5 months ago.
