JAS : March 9th target of 2.45-2.50 within sight.
March 14, 2011 Leave a comment
On March 9 we gave a swing trade target for JAS at 2.45-2.50, when the stock was trading 2.02.
The move to 2.24 yesterday – the previous high from Dec 7th 2010 bodes well for our target being hit sooner rather than later, with first support now seen at 21.4-2.16.
A breakout above 2.24 will likely need 500m+ shares to go through at the very least for a break to hold, but it will surely come soon it seems, from where we feel the target of 2.45-2.50 s not unreasonable.