$JBLU
Added 2024-08-12 19:13:17 +0000 UTCIs down -21% today after they announced a $400 million public offering to effectively free up cash.
Market does not like this as it is a concern and reacted accordingly
Price hit $7.30 post earnings at the end of July and is now sitting at $4.74, desperate to find support and fighting to get back above the 0.618 Fib at $5.
We can see that the 50 and 200 Day MA is lost and a lot of resistance below the blue support line at $6.16, which was a support line from 2022 - 2023
Another stock that will likely see its 0.78 Fib at $4.30 or worse still, go lower.
I will always be attractive to the cyclical nature of airline stocks but I will not be adding right now.
