Technicals Talk: JG Summit Holdings, Inc. (JGS) – 20 Mar 2024 by Regina Capital Development Corp.
Both JGS and its part URC saw strong declines in the past few days, pushing it below previous support levels.
Both JGS and its part URC saw strong declines in the past few days, pushing it below previous support levels.
URC is on its fourth consecutive day of decline, and after yesterday’s trading session saw the RSI drop deep into the oversold region.
The chart signals a clear breakout as the bulls dictate the stock’s momentum.
The PSEi finished relatively flat yesterday as the market saw mixed movement and high volatility among index members.
Participants will check whether the market would continue its sideways trail, or sentiment would glide to Wall Street’s overnight incline, ahead of the Fed’s meeting conclusion on interest rate policy.
100EMA trail support.
Participants might laud the passage on final reading CREATE MORE, especially with the lowering of corporate income tax to 20%.
Participants might adopt a cautious stance this week, ahead of guidance from the US FOMC meeting on 19-20 March (US time).
Potential Gap-fill.
AEV is currently fluctuating within a range of 38.18 to 42.56.
Ascending triangle pattern.
Inverse head and shoulder pattern breakout.
Market players will monitor possible cross above the 7,000 mark, to check whether profit-taking might emerge.
Just signup below for free: