JRJC The Squeeze, the Short, the Correction now the Consolidation
JRJC on scan last night for the potential squeeze, opened at $19.95 and squeezed to $21.18. Most of the time the first thing I look for on a move is a .50 to 1.00 move and then signs of it topping off. As you can see intra-day it rose over the $21 mark after its third failed attempt to re-break $21 it began to sell off. No I don’t think this is a short overall I’d watch here for a dip tomorrow, should bottom and head back towards the $21+ level if it consolidates around $19.75-$20.00.
This can turn into a big move if it can break the resistance levels from back in March (which is about where it topped out today)
Tags: JRJC
April 29th, 2008 at 1:14 pm
[…] The short: HERE The dip/bottom put in: HERE […]
May 2nd, 2008 at 12:36 am
[…] be a trader and not make stupid bets! After a brief correction towards $18 back on track and broke WAY past the $21 I anticipated for the bounce. This is definitely in squeeze mode and may play towards $25! This is why pullbacks […]