Friday, June 1, 2012

Jardine C&C (technical)

Jardine C&C: technically weak. While RSI and Stochastics are in oversold territory, there is no evidence of a reversal in the indicators yet, hence the odds favor a continuation of the current downward trend. The stock continues to make a new recent low in the current session, and is now hovering around a pivotal level. A close below the $41.70 support level could indicate further weakness and a decline toward the next support at $40. Resistance is around the $44 level.

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