- The price of the Jet Blue Share has declined by 18.83% year-to-date.
- Airline stocks are declining due to disappointing bookings in August.
The beta of the JBLU stock is 1.7 due to which the price moves more than the market as a whole. It can be volatile during normal trading days. The price-to-earnings ratio is 73.36, following a basic EPS of 0.08 USD. It means the company makes 0.08 USD on each share.
JetBlue Airways Corporation has a total of 333.25 Million shares floating in the market. It shows the number of shares available in the market for trading.
The company operates in the airline industry and was founded in 1998. It has its headquarters situated in Long Island City.
The company has shown an advance of 8.2% in market cap following a huge advance of 3491.00% in gross margin as compared to Q2 in 2023. The inventory of the company has also advanced by 21.9%. This company also has an operating cash flow of $258.00 Million as per The Motley Fool.
Jet Blue Airways Corp. Performance Analysis
The revenue of the company has advanced from $6.04 Billion to $9.16 Billion in the year 2022. It led to a decline in profit margin of 0.94%. The net income of the company is -4% and the debt for the company stands at $4.38 Billion. Yet, the gross profit of the company has advanced by +3,733.3%.
The financial data of the company shows mixed sentiments for the share.
JBLU Technologies Technical Analysis
The JBLU share price has been consistently declining from higher levels. It is creating a lower-low structure, leading to the formation of a falling wedge pattern. The price is still in the declining phase, making bearish candlestick patterns.
Due to the consistent decline in price from the higher levels, the 50-day and the 200-day Exponential Moving Average are following a death cross on charts. Both EMAs have been moving away from the price, which denotes the increasing strength of the downtrend.
The RSI for the JBLU share is bearish as it has declined below the rising wedge pattern. It is also trading below the 50-level and has hit the oversold zones. The overall cycle of the RSI represents that the stock is in a bearish trend.
Technical Overview of JBLU Stock
The stock price is in a state of ambiguity right now. The technical indicators suggest a strong downward trend, but analysts have a mixed outlook on the stock.
Conclusion
The JetBlue Airways Corp. share price is trading in a downtrend. It is consistently declining from higher levels. This decline has also led to the formation of a falling wedge pattern and the market is still trading inside the same. The RSI and the EMA are also bearish for the stock.
Therefore, if the price breaks above the falling wedge pattern and the level of $9.50, we might get to see a good upward move. If that does not happen, the price may continue to decline to lower levels.
Technical Levels
- The support levels for JBLU Stock are – $2.50 and $3.40
- The resistance levels for JBLU stock are – $9.00 and $16.50
Disclaimer
The information provided in this article, including the views and opinions expressed by the author or any individuals mentioned, is intended for informational purposes only. It is important to note that the article does not provide financial or investment advice. Investing or trading in cryptocurrency assets carries inherent risks and can result in financial loss.