JGS (JG Summit)

[genkumag]

Hello Everyone,

A quick consult on the JGS chart, please.

Not sure if my application of a Bearish Butterfly is correct, and would like to hear your thoughts on this.

In the JGS chart, I labelled the following points in drawing my Bearish Butterfly.

Givens
X=11.00
A=9.30
B=10.50
C=9.70
D=11.50

Bearish Butterfly
XA<AD
Point B retracement (close to .786 of X to A)
Point C (.618 retracement of leg A to B)
Point A to D projected to be 1.272 of X to A

Thanks much in advance!

Rgds,

Genkumag

[yeahbah]

It's a potential bearish butterfly. If you plan on buying, look for other reasons to buy other than the potential pattern.

[genkumag]

So the Bearish Butterfly didn't pan out...

This time I'm seeing an Ideal Bullish AB=CD... Pwede ba ito?

BC leg retraces to the area between 0.618 and 0.786 of the AB leg @ 10.25;
Hence, the pattern was completed near the 1.27 BC projection @ 8.80;
Target remains to be 11.50 with resistance @ 10.50.

Thoughts please?

[mikomac]

target of 11.50 reached! whats the take on this? with upcoming Cebu Pac IPO...

[genkumag]

target of 11.50 reached! whats the take on this? with upcoming Cebu Pac IPO...

I don't have any idea how to incorporate the value of CebuPac IPO to JGS's price.

Based on Fibonacci projection though, I've pegged subsequent targets for the stock at 13.00 (127.2%) and 14.00 (161.8%), provided of course it takes out 11.50 and 12.00 convincingly.

I suggest you use trailing stops and/or money management techniques (e.g. top slicing) to protect and/or maximize profit potential.

Good luck.

[yeahbah]

Mukhang wagi si kumag dito ah. Congrats!

[yeahbah]

Heka parang kakaiba yata yung pag lagay mo ng fib extensions. Kung ako maglalagay, 100% - A, 0% - D -- Fib extension of AD

[genkumag]

Heka parang kakaiba yata yung pag lagay mo ng fib extensions. Kung ako maglalagay, 100% - A, 0% - D -- Fib extension of AD

Hehe. Sir Yeahbah, assumption ko kasi pag may pullback sa prices lalo na pag may strong uptrend ay nauontog sila sa 61.8% Fib projection, kaya pinantay ko rito yung level na yun sa previous high nung nag drawing ako ng fib projection. (please see attached chart).

Pero baka nga mas tama kung pinantay ko yung 100% sa point A... in which case, nasa potential reversal area na si JGS at mali ang pagiging greedy ko! Hay...

Di pako nagout eh! Yari!

[yeahbah]

Nasa 127% pa lang at mukhang may lakas pa

[ronacoba]

JG Summit Holdings Primed To Move Higher?

JG Summit Holdings or JGS in the Philippine Stock Exchange for a while had moved past its previous high at PHP 27.50. However, sellers are quick to bring it back towards PHP 27.00. Nonetheless, things still look rosy for JGS at least from a technical perspective at this point in time...

http://www.laidtrades.com/2011/05/17/jg ... ve-higher/