Gokongwei-led JG Summit Holdings (stock symbol: JGS) has remained stuck at the 37-39 area for pretty much the entire month now. I do not expect it to remain so for very long, though. What we can see moving forward is a move toward 42-43 to fill the gap, followed by a continuation higher or a reversal lower.
The 34-35 area (up to 30) could act as a strong support to any downturn, and possibly be a good place to do some buying. I will review this stock once the said area is reached.
The Stochastic indicator has diverged by moving much higher relative to price.
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