JAS : Swing Trade target at 2.45-2.50
March 9, 2011 Leave a comment
JAS is not for the faint of heart, or indeed for those who find it hard to keep to a stop loss. It is however looking quite interesting, and could rally to nearer 2.45-2.50 in coming weeks.
For such a bullish breakout to occur we think it needs to hold above 1.76 and preferably 1.80 on a weekly closing basis, or breakout above 2.14 on a daily closing basis (or two) to confirm.
For Thursday it will be interesting to see how 2 holds up, with a swift pullback to 1.96-197 possibly offering a day trade back to 2 or so.