JTS : Key resistance at 1.95-196
March 16, 2011 Leave a comment
With JAS powering on as forecast when it was trading at 2, our 2.45-2.50 target is not far away now.
JTS seems to be receiving some effect after a very long time in the doldrums, but faces a massive resistance at 1.95-1.96. Currently at 1.87, first support of substance is at 1.81-1.82, but an attempt at 1.95 or so looks possible, and of flows are strong, a breakout here will likely see a move to just above 2. A speculative punt from 1.83 or so may tempt some…or wait and see if there is a volume supported breakout move at 1.95-1.96 in coming days, from where a follow-buy punt can also be considered.