Jabil Circuit is Near a Key Support Area
Published on Tuesday, 17 July 2012 07:08 Written by TradersHuddle Wire
New York, July 17th (TradersHuddle.com) - Shares of Jabil Circuit, Inc. (NYSE:JBL) finished near calculated support at $18.30.
The provider of electronic manufacturing services for international electronics companies closed at $18.94 leaving shares at a level that will spark interest by traders wanting to start or add to a position in the stock.
Jabil's stock range is defined by its calculated support defined at $18.30 and by the resistance level at $20.61.
The area where we expect for buyers to materialize is defined as calculated support. A stock trading near its support level might see a lift, if it provides the necessary support for traders to place their buy orders. However, if this area is breached, it will signal participants that the stock failed to entice buyers to step in and support the stock, which in turn will spur additional downward momentum.Traders wanting to establish a position should pay close attention to Jabil's price action, and establish it as close to support as possible, but only after buying materializes. Traders should understand that the resistance point at $20.61 might limit their upside, however, if the stock breaks resistance, it could be a good point to step in and add to the position.
- Jabil Circuit Is Near a Key Resistance Area
- Jabil Circuit Broke Resistance
- Close to the 200 Day Moving Average: Jabil Circuit
- Is Jabil Circuit Ready for a Break Out?
- Is Jabil Circuit Expecting a Break Out?
- Jabil Circuit Is in a Tight Range between the 50 and 200 Day Moving Averages
- Trading Idea: What to Expect as Jabil Circuit Breaks Resistance
- Approaching Resistance: Jabil Circuit
- Trading the Setup In Jabil Circuit
- Jabil Circuit Is Close to Resistance
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