Company: Jollibee Foods Corp.
Support: 194.06 / 187.79
The stock has successfully emerged from its lowest 2020 point of 91.10. JFC was on a steady sideways track for the whole duration of 9M20. But it was able to shift into an uptrend when Oct came.
Furthermore, JFC posted corrections the prior weeks from its most recent high of 210.60. By the looks of it, JFC is bound yet again for an uptrend as its bearish technicals are slightly inching closer to a bullish shift — as seen on its thinning bearish MACD histograms, and accelerating DI+.
The stock pared its gains at MOC as it closed yesterday’s trading session at 199.00, after seeing an intraday high of 202.00 and an intraday low of 198.40. Consolidating immediate support is imprinted at its MA50 at 194.06. Meanwhile, resistance can be found at 208.32.
Buy when support holds.