Price action for JBH is looking very positive again. Since finding a low in October, the stock rocketed up 10% on the day of the AGM. Since that day, the stock has tracked sideways for several weeks. It is bullish if the market, despite some of the recent falls, cannot overcome one day’s worth of gains over several weeks of trying. The number of stocks sold short has also decreased so it appears as though short covering has taken hold and JBH should gravitate higher over time. The stock is currently in the middle of its recent range, but more conservative investors would like to see a break out of the top of this range (the recent range is indicated by the solid blue lines). Upside resistance can be found around $17.50, but a pushing through that level could see the stock head towards the high $19’s again.
