Stock in Focus: JG Summit Holdings (JGS)

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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.

(Click here to view the original image)

JGS Daily chart, December 23

JGS Daily chart, December 23

 

 

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