JKH - Voting is trending but will be the back bone of the ASI

During the month of December, thus far JKH had 15 trading days. During this period it came to a low of 209.30, and a high of 223.50. The present trend is upward bias, and if continued it could breach the next resistance of 225.40 which was the high on the 4th of Nov '13, else the present support of 219.90, could be tested.

Volume by Price

It is interesting to note how the volumes have changed hands during the last 20 days, from 23rd Nov '13 to date, which is roughly a month of trading days. A total of 4,506,055 shares had traded during this period. A consolidation of 4 days, can be seen between a low of 209.90 to a high of 212 between 3rd to the 6th of Dec '13, with a share volume of 1.17 million shares. There after prices have started trending up to 216.00 in 2 days with a volume of 282,000 shares. Then between a low 214.10 to a high of 216, the stock had moved sideways for 5 days, with a volume of 1.32 million shares, between 10th to the 17th of Dec '13. Interestingly the volume of the 17th being 751,000 shares or 57% of the volume during this period. From here the stock has propelled itself towards the next rally for 3 days from 18th to the 20th, from a low of 215.50 to a high of 223.50. If you take the 14 day period between 3rd to the 23rd of Dec, the stock has moved up 6.48%. That's when annualized is a 169% increase. Today's inverted hammer may trigger a trend reversal, and the volume traded was a mere 5696 shares, which is well below the daily average volume of 241,000 shares.

 JKH will no doubt make or break the trend and sentiment of the ASI in the coming days and weeks, hence a close watch will be needed.