JPASSOCIAT Technical Analysis
Short Term Stock views Posted on 11 December 2012
Contra Call: Short sell jp associate at 104-104.1, stop loss 105.9 closing basis, Targets 102-99.5
Reason: Dual Trendline Resistance
Comments: jp associate has shown a very sharp up move in a very short span of time. The stock has a very strong resistance on both daily and weekly stock charts at 105.6. As you can see the stock is shown inside two channels and both channels upper trendline intersects at a point which is Resistance for the stock. Also, RSI is coming down from the overbought region. Stock can show some retracement up to the mentioned levels in few days.