SG Stocks To Watch (Jumbo)

2016Sep-Jumbo-800x600

Jumbo (SGX:42R)

Jumbo closed today’s session with a Bullish Reversal Candlestick Pattern (One White Soldier) with exceptional high transacted volume exceeding its 50 days average, implying further upside strength to establish this swing point low as a supported level.

The immediate resistance to watch for is at $0.63 level, which is also a historical consolidation period with distribution pressure from institutional level with Global Equity Demand/Supply Index peaking during the whole of July, before undergoing a -16.2% correction in August with a breakdown of its Bearish Wedge Formation.

 

Submit a Comment

Your email address will not be published. Required fields are marked *