I have no licence to give financial advice, etc
I found JLP the other day while running wider technical scans and was surprised that my pattern finding software hadn't pinged this as being a bullish symmetrical triangle.
On further research I have determined that this may be more likely to fall under the technical parameters of a Hunt Volatility Funnel (HVF), which is very similar, but focusses more on the idea of having three lowers highs, three higher lows and a major trend being in play.
Currently the daily trend is upwards, meaning that we can expect on a balance of probabilities for this pattern to break to the upside (HVF theory encourages the idea that markets tend to continue in the direct they're going in rather than turn around).
To project a target from this pattern we have to 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).
I went long here a couple of days ago ~4p and will continue to add to my holding on further dips as the news catalyst we are expecting (debt funding news) is expected imminently.
Here is a fundamental look at the company that I put together:
http://themaskedstocktrader.blogspot.co.uk/2015/11/jubilee-platinum-short-analysis.html
Enjoy,
The Masked Stock Trader
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