ASX stock Analysis JRV

ASX stock Analysis JRV

Time Frame : Daily Chart

Watching for Buy Entry Setup

JRV has stalled into resistance around 0.54 but the longer term uptrend is intact and held at 0.425. We want to now see a pullback and buyers to soak up the selling pressure for a higher low ideally around the 0.46 area. Buying at current levels would mean very wide risk and into a short term extended market. In the current global market conditions, it would not be prudent to buy yet as risk would be around 0.42 and the 0.54 level could easily hold and buying fall apart. Still watching for now as the action looks strong.

Stock : ASX stock JRV

Current Price : 0.52

Status : On watch for a move above 0.60