Gosh, I'm having a few issues today ... my fault.Let's see if...

Gosh, I'm having a few issues today ... my fault.

Let's see if this is ok.





Hyer Gj @gj0201 and Friends,

Please refer to the JAT chart below.

What you are saying can be correct, but not in this instance.

If you cast your mind back to my post on this thread, on the 30/12/2020, I posted a couple of charts for Z1P and one of them had a projected 161.8% extension to $13.90.

This level was reached on the 16/2/2021. An entry at around the 50% pullback ($10-6 x 50% = $5.30) would have given a profit of 260% in a very small time space.

Ok, it doesn't always work as tidy as it did with Z1P but it's not a bad approach either. The Fib Ext to 161.8% was used, from the bottom of the chart to the (left) top.

JAT - in a case like this, the Fib Ext to 161.8% that you are referring to is not appropriate. You should only use them when a stock has been in a uptrend and then had a pullback.

In JAT's case it is a different story. The stock had a massive pullback to practically a new Low. Then it consolidated and formed an extended base and it appears to be now ready to move up.

When this happens, the way to work out the next major target is to use the Fib Retracement, starting at the Top on the High prior to the downtrend beginning and dragging the Fib cursor to the Low of the chart. Please refer to the chart attached.

The projection is the 76.4%, which brings the price to around 22 cents, or close to a Disallowed.

If things go well, this stock could go much, much higher than that and whether one should hold on to it or sell for a Disallowed is a personal question. At this point in time, I intend to hold as I do believe that JAT is an A2M in the making and quite possibly an even better stock.

Cheers,

soccer

Chart below: