$JIN - JUMBO INTERACTIVE - Broken strong resistance

$JIN - JUMBO INTERACTIVE - Broken strong resistance

Has had a pretty good run over the last couple of years. Has broken through a traditional resistance level. Be worth a watch to see if it can continue its momentum. Has a bit of volume behind it.

Jumbo Interactive Limited is engaged in the retail of lottery tickets through the Internet and mobile devices sold both in Australia and eligible overseas jurisdictions. The Company operates in two segments: Internet Lotteries and All other segments. The Internet Lotteries segment consists of the retail of lottery tickets sold both in Australia and eligible international jurisdictions, and Internet database management/marketing. Internet Lotteries has two segments: Internet Lotteries Australia and Internet Lotteries Germany. All other segments include operating segments of non-lottery business activities. The Australian Charity Lottery business involves the sale of a number of charity-based lotteries to the established customer base in Australia. The Australian Charity Lottery business includes over four charities and the games are integrated into the OzLotteries.com Website and application. The Company offers German lottery sales online across desktop, tablet and mobile devices.

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Going well.

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JIN has had a great run since we first looked at it and now up in that 100% gain type territory. It has tested that $18 mark multiple times but encountering strong buyer resistance to push through. It's is looking weak so I wouldn't be surprised if it backs off a bit until we get more volume and buyer momentum appearing in the charts. Has been good so far though :)

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Topped up on JIN again today @ $21.03

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Went the wrong way today. Its at the bottom of the channel and at a resistance area so I am looking for a bounce in the next couple of days. If it breaks down much below $19 I will look for an exit.

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JIN ended up one of the better performers in 2019 with a crazy 200% run before some big pullbacks. Worth keeping an eye on to see how it recovers post corona.