JBL approaching resistance that dates back more than a decade!
JBL, an electronic components company, is approaching resistance that dates back to more than a decade!
This is huge! When multi year resistances break you can be sure that the stock is going to shoot to the moon.
Looking at the price action on the weekly or even daily, it seems like this may approach or even break above $59.88 in the coming week.
Trade idea:
* Look for a weekly break and close above $59.88. Getting in before that may be a bit more risky since this may act as a strong selling point.
This is huge! When multi year resistances break you can be sure that the stock is going to shoot to the moon.
Looking at the price action on the weekly or even daily, it seems like this may approach or even break above $59.88 in the coming week.
Trade idea:
* Look for a weekly break and close above $59.88. Getting in before that may be a bit more risky since this may act as a strong selling point.