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April 18, 2023
JetBlue Airways is on a 5 day downtrend With a marginal improvement upon yesterday's session, JetBlue was steady yesterday maintaining a $6.73 – $6.89 range before closing at $6.8.
Uncertainty around JetBlue is reflected by published market data as United States TIC Net Long-Term Transactions (Feb) came out at 71 billion, while a consensus of analysts was expecting 101.9 billion. United States NY Empire State Manufacturing Index (Apr) released yesterday at 12:30 UTC with a figure of 10.8, while the previous figure was -24.6.
JetBlue Airways Corporation is approaching key support, around 8 cents away from $6.72. Dipping below could indicate further losses are ahead while a failure to break below this level is likely to be seen positively by market bulls. JetBlue Airways's upper Bollinger Band® is at $7.29 and the lower is $6.6.
Despite muted price action in JetBlue, chart analysis indicates it is positioned for a bullish run in the short term.
Meanwhile, mixed performances were seen by other industrials stocks as Boeing traded at $205.03 after closing yesterday's trading day at $201.71 (up 1.65%). Raytheon Technologies added 1.41% to its value, and traded at $103.11.
Data to be released today might clear up some of the market fog as tomorrow at 14:30 UTC data for United States Crude Oil Inventories will be released, with an expected decline to -2.46 million from the preceding figure of 597,000. United States Building Permits (Mar) is expected today at 12:30 UTC.
Approximately 11 months ago, America's 7th largest airline reached a significant high of $13.53 but has struggled to hold onto its gains and declined 49.82% since then.
