Jabil Circuit, Inc., together with its subsidiaries, provides
electronic manufacturing services and solutions worldwide. It offers
electronics design, production, and product management services to
companies in the aerospace, automotive, computing, defense, digital
home, energy, healthcare, industrial, instrumentation, lifestyles,
mobility, mold, networking, packaging, peripherals, storage,
telecommunications, and wearable technology industries. The company’s
services include integrated design and engineering; component selection,
sourcing, and procurement; automated assembly; design and
implementation of product testing; parallel global production; enclosure
services; systems assembly, direct order fulfillment, and
configure-to-order; and injection molding, metal, plastics, precision
machining, and automation services. It also provides mobility, display,
set-top boxes, and peripheral products, such as printers and point of
sale terminals.
Take a look at the 1-year chart of Jabil (NYSE: JBL) below with my added notations:
Over the last 6 months JBL has been trending consistently higher,
while also forming a nice trend line of support (green). Always remember
that any (2) points can start a trend line, but it’s the 3rd test and
beyond that confirm its relevance. As you can see, the market deems
JBL’s trendline to be very important. In addition, the stock also has a
key level of resistance at $24 (red).
The Tale of the Tape: JBL has a trend line support
and a $24 resistance. A long position could be entered on a break above
$24, or on a pullback to the trendline, with a stop placed below the
level of entry. A short position could be entered if JBL were to break
below its trendline.
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