Ever since mid-Mar, JGS has been traded at a discount to its key long- and short-term moving averages. Furthermore, the stock was on a steady ascent in Jun after hitting its lowest price, so far, at 47.90 last 10 May. More recently, it looks like the stock is in consolidation mode as it keeps on getting traded within the 59.60 to 62.55 range. Likewise, buying pressure went a little bit soft, but momentum indicators remain bullish towards JGS. However, volatility is still low. Hence, investors may want to take in positions only when the stock has breached its resistance and MA50 at 62.55.

Buy on breakout.

Support: 59.60 / 56.80
Resistance: 62.55 / 63.30


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