Jumbo 10 Feb 2016 (Short Term)

As you might have noticed, global stocks are in a volatile market this period. For instance, Dow jones been trying to stay above 16,000 pts. Much volatility can be seen from past few trading sessions. What I noticed is that the upside is very limit, while chances of stocks trending downwards is much higher. Do trade cautiously.

Even during such volatility, I noticed that there might be a short term opportunity for Jumbo. Entry, Support and Resistance prices can be found below.

Entry price: $0.425 – $0.430
Support: $0.425
Stop Loss: $0.41 (-3.5%)

Target Price: $0.48 – $0.475 (+11.76%)
Resistance: $0.48

Time frame: 2 Weeks

Things to note: Despite such market environment, Jumbo is still uptrending, as seen from the 20 and 50 days moving averages. Stochastic signals crossed up from oversold region.


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