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June 26, 2023
A quick look at Friday: the major low cost US airline found support around the $7.94 level, after closing Thursday at $8.1 and dropping by 1.98% Friday.
JetBlue Airways Corporation made an initial break below its 10 day Simple Moving Average at $7.89, a possible indication of a forthcoming negative trend. Despite this, JetBlue could begin to recover as it approaches significant support, now 9 cents away from $7.85. Dipping below could be an indication that further losses are ahead.
Looking forward, JetBlue Airways is poised to extend its strong downtrend and continue declining.
JetBlue was not the only decliner in the industrials sector; Deere & Company closed at $404.45 (down 2.7%). Union Pacific withdraws 1.71% Friday to close at $203.37. United Parcel Service went down to $169.29, losing 1.22% after it closed at $171.38 Friday.
Some optimism can drawn from the fact that United States Core Durable Goods Orders is projected to outperform its last figure with -0.2%. It previously stood at -0.3%; data will be released tomorrow at 12:30 UTC.
Furthermore, United States Building Permits is expected tomorrow at 12:00 UTC. United States New Home Sales (May) will be released tomorrow at 14:00 UTC.
The stock has been trending positively for about 2 months. America's 7th largest airline now trading 18.08% above its 3-month low of $6.19.
