JGS is on its second day of decline after the appearance of a dragonfly Doji last Friday. Currently, the stock snuggled between the 100-d and 260-d moving averages. It also closed at its support level of 60.00. The indicators are mixed. The RSI is nearing the neutral territories as it develops a downward bias. On the other hand, the DMIs still have strong bullish momentum, but the ADX is starting to show signs of plateauing. The MACD converged bearishly, and the histograms are muted. If JGS fails to respect the current support level, some sideways-to-down movement is likely, at least for the rest of the week.

Buy when support holds

Weekly target: 60.00
Support: 60.00 / 56.50
Resistance: 62.13 / 62.85

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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