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February 22, 2023
A quick look at yesterday: a tough session dominated by bearish sentiment left JetBlue Airways 41 cents lower, while setting a $8.14 to $8.5 session range.
United States FOMC Meeting Minutes is next today at 19:00 UTC.
Meanwhile, United States Existing Home Sales (Jan) came out at 4 million, while a consensus of analysts was expecting 4 million. United States 2-Year Note Auction released yesterday at 18:00 UTC with a figure of 4.673, while the previous figure was 4.139. United States Existing Home Sales improved upon its previous reading of -2.2% with a new data release of -0.7%.
JetBlue Airways Corporation made an initial break below its 200 day Simple Moving Average at $8.21, a possible indication of a forthcoming negative trend. In contrast, JetBlue Airways could begin to recover as it approaches significant support, now 14 cents away from $8.07. Dipping below could be an indication that further losses are ahead.
In the short term, JetBlue is expected to maintain its recent downtrend and continue spiralling lower.
JetBlue was not the only decliner in the industrials sector; Union Pacific dips 3.89% yesterday to close at $201.59. United Parcel Service lost 2.59% yesterday and closed at $178.46. Boeing went down to $205.52, losing 2.9% after it closed at $211.66 yesterday.
Looking ahead, ongoing depreciation may be prolonged as as things stand, upcoming United States Crude Oil Inventories data is projected to fall short of market expectations with newly published data of 1.17 million, following on from the preceding figure of 16.28 million. New data is set to be published tomorrow at 16:00 UTC. Tomorrow at 13:30 UTC data for United States Initial Jobless Claims will be released, with an expected decline to 200,000 from the preceding figure of 194,000.
Furthermore, United States GDP is expected tomorrow at 13:30 UTC.
America's 7th largest airline is up 39.26% from the significant low of $6.19 it hit a month ago.
