Perfect Blue Stock Market Guide

JML (Jabiru Metals Limited)broke away from the long term down trend in April and has been consolidating sideways since. Is there anymore movement up in the near future?

The last 3 months has seen JML bouncing between $.025 and $0.35. This could be seen as a bullish flag off the end of the long term down trend. Should $0.35 be breached it is like to reach the next major resistance level of $0.55. This is the higher probability scenario.

However if the lower level of consolidation is broken through the previous low of $0.10 is a likely target.

Tags: bullish, consolidation pattern, Stock Market Guide, Technical Analysis

This entry was posted on Tuesday, July 28th, 2009 at 5:07 am and is filed under Stock Market Guide, Technical Analysis. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.