Friday, April 27, 2012

JCY - Reclaiming All-time High

JCY - Back to All-time High (27 April 2012)

JCY's recent share performance is FANTASTIC!!!

It reclaimed the 1.50 peak in Feb'12 like tofu, that's the beauty of a breakout pattern.

Now sitting nicely above 1.55, there's strong support within the 1.45-1.55 region. 

Depending on the coming 1Q'12 result, which should be out by 1st-2nd week of May, the share price might consolidate within the support range or continue its rocket up journey.

If the result beats estimate, I expect a light touch or two on the immediate support of 1.55 level, follow by a strong run to 1.80 level. The Cup&Handle pattern gives a breakout target at 1.93-1.95, which is the all-time high for the counter.

If the result is as expected, the stock might consolidate within the range of 1.40-1.50, building a base before any further upside.

If the result disappoints, then we shall see the sellers rush in & push the price down to find further support at 1.20-1.40 region.

The charts is telling me there's a high chances that we will see the stock reclaim its all-time high, or higher. We shall see if the fundamental will blend in eventually.

My previous posts on JCY:

JCY - Rechallenging 1.50 peak (Apr'12)
JCY - Rebound from bottom (Mar'12)


No comments:

Post a Comment

Related Posts Plugin for WordPress, Blogger...

Books for Traders