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Just Energy Group Inc. Message Board

  • shiftsuper175607 shiftsuper175607 Jul 12, 2013 8:06 AM Flag

    5 day chart

    Are there any technical analysis guys here?
    The 5 day chart looks very bullish.
    What is the short position?
    If this trend continues, they will need to cover their position
    , or loss any profit they have.

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    • There's nothing bullish about a 5 day chart unless you're executing a swing trade. The one key thing that's worth mentioning is the down treand JE has been in for a while. JE started down last year in october and the retraced back to the 10 dollar level but cold not close above like 10.50 to truly break it. Then they had bad news which sent them down to where they are now. Back in early June I thought they were starting a new uptrend and would close that massive gap from february but they pulled back to the 5.80 level again. From a strict chart perspective the most encouraging thing is they have managed to close above the 6.60ish mark which was the high point of this last down trend. Volume has been lite though so it's tough to say but it's also summer time. I would expect a slight pull back and then a possible next leg up with a close above current levels to truly represent an uptrend. If that can happen and they have decent news with no impact to the divi then I would not be surprised to see them move to the 8-9 dollar level later this year maybe in the fall. This just comes from years of analyzing candle stick charts as an active trader.

    • At 6/28/2013 where record short position 11,626.893 shares
      Shorts allready start cover they position.

    • Tested support at around 5.80 resistance at 6.50 and then 6.85 approx. nice bounce here but lets see what happens at 6.50 it failed at 6.49 on June 18th.

 
JE
5.61-0.10(-1.75%)Aug 26 4:02 PMEDT