Its kind of bold to make forecast about bankrupt company, but fundamentals & news story aside which i have no idea about. Purely chart based analysis shows that on monthly chart jet airways made beautiful corrective structure for Upward C wave. which i am expecting. lets see when will we see it.
thanks & take care.
Near 28-29 July
This stock should start doing bullish moves....
High probability that it gets taken over and new bullish phase will commence ....at a particular price
JETAIRWAYS - 2H - Formation of BAT Pattern
Currently price is testing 200MA as a resistance. Price can move up to test 100MA after gaining the support of 200MA if it breaks 200MA on upside.
Stock shows formation and completion of BAT pattern. Minimum expected retracement if 38.2%
It is also showing bullish divergence on RSI and Macd for now.
Jet Airways :
Trade the Price gap between sellers and buyers :
Plan :
Buy above 284.4
Stop loss below : 276 ( Red Inside Bar)
Target 1 : 290
Target 2 : 299
Enjoy the Gap Trade!
If the stock is able to close above 348 today and in short term crosses 378, bullishness may return. Presently left steep 1/3 descending line and in the process of consolidation.
50 DMA crossing 200 DMA pushed the price down and now since 100 DMA has crossed 200 DMA, the breakdown is very much a possibility. This I posted in my previous post.
