JAT chart (Only), page-295

There is an awful amount of speculation occurring in this thread at the moment. Rather than speculate, why not use FA to determine the fair value of the company. From this analysis, use TA to understand how and when the price may drive to that fair value. I'm not going to run through my FA for all here; it is each investor's responsibility to perform their own due diligence.

As I've stated previously, I'm confident that over the long term JAT will deliver positive returns for shareholders. In the short term however, it is possible that we will see further declines in share price based on the current TA set up. Managing the short term declines differentiates good investors from poor investors.

Do I think CFDA announcements will spark a price rise? Not really - these "milestones" are being factored in. Do I think quarterly number announcements will spark a price rise? Not really - investors expect companies to deliver a pre-determined set of numbers. These days, meeting those numbers is not adequate; investors want numbers in excess of expectations.

From a TA standpoint it is critical that JAT manages to maintain support above 0.180. Retraces from highs will always occur, but the current trend (identified and confirmed with the MACD) is bearish. The price has now dropped below the 10MA on the daily, and is at risk of dropping through the 50MA also.

So where to from here? I'm not going to speculate. However, I understand the fair value of the company at present and will position my portfolio accordingly. The announcement of results will either justify further positioning or will cause me to reconsider my investment.

Share investment (or any investment for that matter) is about patience, trading to a plan and protecting your capital (managing downside risk). If you've entered a trade without understanding the risk, knowing what your sell points are and hoping to make a quick buck, then it's fair to say that nine times out of ten you'll be making a losing trade.

GLTAH.