Last week:
The price rejected 61% FIB area (61% was my target based on the 50-23-61 pattern).
The was a slight Gap formed on august 5th.
The Gap and 50% FIB as nearby support and 61% FIB as nearby resistance.
indicators:
RSI seems to be at around its previous resistance (BLUE horizontal line)
stochastic bullish at the overbought area
MACD bullish period after being squeezed for about a month and several days.
To conclude,
by using FIB level and E.W channelling I believe the next target for JKSE to set is around 65xx. (BULLISH)
the GAP might be filled first but
have to be careful if the price keeps going below 23% FIB. (BEARISH)
NB: DO MIND that These analyses I posted here are intended as my notes and not as investment recommendations or as financial advice! Please also note that you are always responsible for your own investments when trading on the stock exchange! The analyses are only based on my opinion and view. LETS CUANN!!!
The price rejected 61% FIB area (61% was my target based on the 50-23-61 pattern).
The was a slight Gap formed on august 5th.
The Gap and 50% FIB as nearby support and 61% FIB as nearby resistance.
indicators:
RSI seems to be at around its previous resistance (BLUE horizontal line)
stochastic bullish at the overbought area
MACD bullish period after being squeezed for about a month and several days.
To conclude,
by using FIB level and E.W channelling I believe the next target for JKSE to set is around 65xx. (BULLISH)
the GAP might be filled first but
have to be careful if the price keeps going below 23% FIB. (BEARISH)
NB: DO MIND that These analyses I posted here are intended as my notes and not as investment recommendations or as financial advice! Please also note that you are always responsible for your own investments when trading on the stock exchange! The analyses are only based on my opinion and view. LETS CUANN!!!
