- Price has been recovering nicely in a well defined channel since the Covid-19 crash.
- The base of the channel is formed by the 20dMA (20 day moving average).
- Price has bounced off this lower channel (20dMA) 3 times. This means the 20dMA and channel bottom is a fairly strong support.
- The 20dMA crossed the 50dMA on May 7th. This is a bullish signal.
- Next time price approaches the 20dMA is will also be near the bottom of the Fibonacci Retracement channel which price has bounced off the last 3 tests. - - -- This means the $27.50 Fib line is fairly strong support.
- The 200dMA is at the $33.60 Fib line. These form overhead resistance lines.
JBL Swing Trade SetupThe setup here is to buy when price bounces off the 20dMA around $28.24 with a target of $33.33 for a 18% gain and a stop loss at $27.29 for a -3.3% loss.
- The base of the channel is formed by the 20dMA (20 day moving average).
- Price has bounced off this lower channel (20dMA) 3 times. This means the 20dMA and channel bottom is a fairly strong support.
- The 20dMA crossed the 50dMA on May 7th. This is a bullish signal.
- Next time price approaches the 20dMA is will also be near the bottom of the Fibonacci Retracement channel which price has bounced off the last 3 tests. - - -- This means the $27.50 Fib line is fairly strong support.
- The 200dMA is at the $33.60 Fib line. These form overhead resistance lines.
JBL Swing Trade SetupThe setup here is to buy when price bounces off the 20dMA around $28.24 with a target of $33.33 for a 18% gain and a stop loss at $27.29 for a -3.3% loss.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.