But it did not materialize just like that. That was then, and the chart below is now:
JKH is now gathering momentum again although it broke down and settled at 141.00. It is too early to conclude that the consolidation is over. But one thing is clear. That is the range of support is within 134.90 to 139.70. As such what we need to see now is a bullish close, hopefully between 140 and 141. Failing which it will be around the aforesaid support base. The next issue will be the resistance areas. With 2 gap formations we see 143.60, 145, 146 and 147 as barriers in it's move towards 150.00. Therefore the breaking out of 150 and heading higher ain't gonna be a CAKE WALK. Hope it would be an easy ride nonetheless.
No comments:
Post a Comment