w1 chart update, page-16

In addition to Sketchingdan's daily chart, here the updated w1 chart (every candle represents 1 week), which shows there are 5 resistance points in the vicinity (in this order):
1) the 38.2 fib (which held on 2 previous occasions)
2) the $17.00 mark (representing a previous high late 2008)
3) bottom trendline of a downward channel
4) bottom trendline of a longterm upward channel
5) the 200 exponential moving average (purple line)
Take your pick.


I know I have been bullish on JBH since mid-March with no real breakthrough to show for it, but with this much support right underneath the current price I can't help expect a reversal in the very near future. What does sometines happen with stocks that have been sold off for a while, is that the lowest support (within a cluster of support points) is the one that holds.



Cheers
Hans