Tuesday, 10 November 2015

Jubilee Platinum - Technical Update (10/11/2015)

Disclaimer: I don't have a licence to give financial advice, don't therefore view this as such.

As you can see below there is a ginormous continuation pattern occurring in Jubilee Platinum right now. I would expect this to continue in line with the current weekly trend to the upside.

To calculate a target from an upside break of this pattern we do the following:

Find the first major high (August) = 5.45p

Find the first major low (September) = 2.8p

Find the mid point of the triangle (the two numbers above) = (5.45+2.8)/2 
                                                                                               = 4.125p

Difference between first major high and first major low = 2.65p

Price Target on upside break = Triangle mid point + major high major low difference

= 6.775p (implied upside of 78% from the current share price - 3.8p).

Here's the same image from a weekly perspective to give you a long term contextualised view:

 This weekly chart is very handy for showing the levels of support and resistance - good news should move us up to the 4p resistance and then after this it's a straight path to the 5-6p range.

Here is a fundamental look at the company that I put together:



The Masked Stock Trader

No comments:

Post a Comment