Thursday, May 5, 2016

Jumbo: Hit a high of 0.49 then some profit taking seen.... can the 0.500 clear out eventually? now at 0.485

Still watching this counter closely, have seen an impressive move today but more confirmation required for further upside from now on. Support at 0.46 with the same cap at 0.500… let’s see…. Any move above 0.500 will be interesting for a long entry…..

Sent: Thursday, May 05, 2016 10:23 AM
Subject: ************** Jumbo: Potential breakout play.... price 0.475
We have seen way above average volume on this counter today with a move above the 0.46 resistance, likely to test the resistance at 0.485 – 0.50 where we can see an attempt to stage a clear breakout above. With this happening, it can lead to the end of sideway consolidation since the beginning of the year. AND A target of 0.54 then 0.60. More price action confirmation required on this move, but in watch list.

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