JFC has fallen 4.7% so far this week as it closed at week’s low at 157. When is it going to bounce? From its high of 186.2 per share last November, it dropped to 160.70 after a month. Although it made a bounce, it retraces and continue to fall and is now near the 127.2% Fibonacci Retracement levelfrom the last bounce. This level will be very interesting and worth watching. There is a great chance price will hit here and if we will see a good candlestick pattern, JFC will bounce from here.
Absence of anothe other indicator means it will continue to fall. You may test buy at 155.50 but prepare for your cutloss plan since the next stop is quite far.
Caveat!
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