$JSEJBL Looks Booked For More PainA rise from 112c to 417c in less than a year (+270%) is no mean fate, right? There was a corresponding big boom for SA recourses so isn't it always said that the incoming tide lifts all the boats? All is still good and well for those who bought in October '20 but will the profits hold, and is there a chance for some improvement at the current price?
• The purple lines indicate that, up to the top, there was a bearish divergence between the price and two shown indicators, and with that in my view always a chance for a change in direction.
• The long rising support line (red) was lost in middle of June '21, just revisited at the end of June '21 and is now completely out of touch with the price.
• The horizontal (red) line which was resistance then turned support was also temporarily lost once already and now for a second time.
• If the horizontal red line is not regained, then it seems the descending triangle (together with yellow line) comes into play with a subsequent break down according to textbooks.
Although the two indicators used here seem to be a bit oversold now, which could bring some relief, something like the weekly and monthly MACD's are very far from that and in my view Jubilee Metals ($JSEJBL) could continue to disappoint in future.
