JBLU) Rebound Before Year End?

The JBLU stock has a float of 332.04 Million shares and a market cap of $1.51 Billion. The JetBlue stock’s current volume is 12.67 million and last 10 days average volume is 20.14 million.

The JetBlue stock’s (earnings per share) EPS for the trailing twelve months is 0.08 and its price-to-earnings ratio for the same period is 60.10. The JetBlue stock has a CMP of $4.53 and an intraday loss of 1.09%.

The latest quarterly report for the period ending June 2023 showed a revenue of $2.61 Billion, a net income of -$362.00 Million, and a profit margin of -3.95% and it seems that the net income and profit margin in JBLU is declining annually. This highlights the stock’s fundamentals and financials are dropping significantly. The next quarter’s revenue is estimated to be $2.405 Billion.

The latest quarterly balance sheet of JetBlue for the quarter ending June 2023 reported $14.45 Billion in total assets and $10.88 Billion in total liabilities. A closer look at the annual trends reveals that the assets have remained almost unchanged while the liabilities have grown significantly every year. This indicates a negative financial and fundamental outlook for the stock.

At the time of publishing, the major EMAs are bearish in JetBlue Airways Corporation (NASDAQ: JBLU). MACD shows a bearish cross on the charts with stagnant width in the histogram while the RSI is in an extreme oversold zone.

JBLU Stock Price Technical Analysis in 1-D Timeframe

JetBlue Airways Corporation (NASDAQ: JBLU) is experiencing a sharp decline from $22, following a downward trendline since March 2021. Since then, it is making lower lows and highs.

The JBLU stock may continue to fall further if bears push more and break below $4.50, which could lead to a target of $4. 

Alternatively, if the JBLU stock manages to reverse by surging in strong buying momentum, it may thrust above $5, which might trigger a rally to $5.50 or higher.

JBLU stock does not offer any amount of dividends to its shareholders and it has never done the same in the past as well. It seems unlikely that JBLU company will pay any dividends amount in the future either. This highlights that the shareholders do not get any kind of regular income from the JBLU stock and this might be reducing the attractiveness of the stock for many investors out there in the market. 

Summary

JetBlue stock has been in a downtrend since March 2021, with weak financials and fundamentals. The stock has no dividends and may fall to $4 or rise to $5.50 depending on the trend reversal. The technical indicators are bearish and oversold.

Technical Levels

Support levels: $4.5 and $4

Resistance levels: $5 and $5.5

Disclaimer

In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.

Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.

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