10 Months later and +156% higher, my long idea is closed.
For those who know me and have closely followed my analysis over the last few years know that I make frequent use of the monthly chart in long term decisions. This was the case with JBL where my buy/long in October of last year (see attached) was based off the monthly chart, suggesting an extending time...
A rise from 112c to 417c in less than a year (+270%) is no mean fate, right? There was a corresponding big boom for SA recourses so isn't it always said that the incoming tide lifts all the boats? All is still good and well for those who bought in October '20 but will the profits hold, and is there a chance for some improvement at the current price?
• The purple...
Jubilee broke a strong resistance at R3.50, shooting up 18% to hit R4.15.
I expect a pullback as it reaches the upper end of the trend line, before moving higher again.
I'll use this upcoming pullback to add to my position.
Jubilee has been trading low but with demand in Platinum it has been able to rise.Jubile currently trading at R3.30 has to pass that resistance level at R6.70 to be able to reach its A.T.H at around R16.
Jubilee Metals has seen steady increases since reporting their earnings back in November. Uptrend support line has been respected until post mid Jan. This was a heavy dip but had a decent rebound yesterday. Seeing the trajectory and formation of this dip, could be signs of a short term trend change. It would take a few more 8% + consistent daily movements to put...
Stepping back reviewing the monthly chart, we note the price is the early stages of a multi-year base breakout. The 14-month RSI is strong, trading above the 70 level.
This chart forms part of a larger research note. It should not be considered as financial advice.
It looks like we are bouncing off the kijun zone (yellow). This zone was an important support back in 2017 and it seems to be still a good support zone. If my thesis is correct we should rally to around 89-90 and then drop again from the double top formation.
Entry 75
SL: 69
TP: 89 ( SSB Level)
RR: 2.33
Manage that risk appropriately!!
JBL - initially broke out of a 12 month box consolidation pattern back in April 2019, It has then gone on to form a 5 month bullish flag that has now also broken out to the upside.
RR: 1:3+
Jubilee Metals Group Plc is a platinum focused mining and exploration company, which engages in the exploration and exploitation of natural resources. Its operates through following projects: Hernic Platinum, DCM Platinum & Chrome, PlatCro Platinum, Kabwe and Tjate Platinum. The company was founded on June 16, 2002 and is headquartered in London, the United Kingdom.
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