Monday morning JetBlue Airways ( JBLU) made a $30/share hostile takeover bid for Spirit Airlines ( SAVE) . The share price of SAVE jumped but what does this do to JBLU's shares? Let's check the charts and indicators. 
In this daily bar chart of JBLU, below, we can see that prices have drifted lower the past 12 months. Prices traded sideways from August to February but the downtrend resumed in March. JBLU trades below the declining 50-day moving average line and below the declining 200-day line.
The On-Balance-Volume (OBV) line has been holding its own or bottoming since December. The Moving Average Convergence Divergence (MACD) oscillator is bearish but narrowing towards a potential cover shorts buy signal.
In this weekly Japanese candlestick chart of JBLU, below, we can see that the most recent candle pattern is a possible bullish hammer pattern. A bullish candle this week is needed for confirmation. Prices trade below the bearish 40-week moving average line.
The weekly OBV line shows a decline from early 2021. The MACD oscillator is bearish.
In this daily Point and Figure chart of JBLU, below, we can see a potential downside price target of $8.69.
In this weekly Point and Figure chart of JBLU, below, we see that the software looks for $7.59 as a potential longer-term target.
Bottom line strategy: I have no idea or special knowledge of how this hostile takeover will play out in the weeks ahead. Taken by itself the charts and indicators of JBLU are a little soft. I would avoid the long side of JBLU for now.
