JGS sustained its breakout past the 260-d moving average of 61.89 last Wednesday. It even climbed as high as 64.90 intra-day – the highest since early Mar. Yesterday marks the third consecutive day that the stock ended in the green, and this trend fueled the buying signals from the indicators. Currently, the RSI is veering close to the overbought territories with some upward bias. The DMIs and MACD also have relatively strong buying pressure. The ADX is still rising, but the MACD histograms are already decreasing. There is an immediate resistance at 64.45 that JGS would likely test over the next couple of days. Meanwhile, the nearest support is the 260-d and 50-d moving averages.

Buy on breakout

Weekly target: 63.40
Support: 61.95 / 60.00
Resistance: 64.45 / 66.20

Material in this article is obtained from sources we believe to be reliable, but its reliability or precision cannot be guaranteed. This is for the sole purpose of providing details and does not provide an offer from us to buy or sell securities mentioned in this document.


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