Buying JBH shares in the post Christmas sale

by Michael Gable

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.



Disclaimer

Disclaimer: Michael Gable is an Authorised Representative (No. 376892) and Fairmont Equities is a Corporate Authorised Representative (No. 444397) of Novus Capital Limited (AFS Licence No. 238168). The information contained in this report is general information only and is copy write to Fairmont Equities. Fairmont Equities reserves all intellectual property rights. This report should not be interpreted as one that provides personal financial or investment advice. Any examples presented are for illustration purposes only. Past performance is not a reliable indicator of future performance. No person, persons or organisation should invest monies or take action on the reliance of the material contained in this report, but instead should satisfy themselves independently (whether by expert advice or others) of the appropriateness of any such action. Fairmont Equities, it directors and/or officers accept no responsibility for the accuracy, completeness or timeliness of the information contained in the report.