Technical Analysis: Jasper Inv Limited October 20, 2016 25

Jasper Inv Ltd  – Daily timeframe


Current Sentiment: Bearish

Support 1: 0.014                   Resistance 1: 0.020

Support 2: 0.013                   Resistance 2: 0.022

Price has been surging higher extensively from a low 0.006 to a high of 0.200 since 12/10/16 after it broke out of the 0.005 range high.

The upswing appears exhausted for now as price got firmly rejected by the 0.020 psychological round number on 19/10/16 where a gravestone doji was formed suggesting some correction next. Moreover, the bearish rejection was backed by extreme volume.

Expect price to enter into a correction phase next to test the 0.014 support area followed by 0.013.

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About the author

Profile photo of Jeremy Ng

Jeremy Ng
Research Analyst
Phillip Securities Research Pte Ltd

Jeremy specialises in Technical Analysis and has 10 years of experience in studying price action. His areas of expertise include intermarket analysis on the equities, currencies, commodities and bonds market.

He is also a regular columnist on The Business Times - every Monday ChartPoint column.

He graduated with a Bachelor of Science in Banking and Finance from University of London.

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