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
Stop Loss: $0.41 (-3.5%)
Target Price: $0.48 – $0.475 (+11.76%)
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.