JFC closed last Friday (02-14-2014) and found support at 152.9 of Tenkan-sen line. For me, this is just a short term support and may not hold strong enough. Now let's say that this supports holds next week, observe in the chart below that we are facing a strong resistance at 127.2% Fibo level at 155.50 because not a single candlestick was able to pass this level.
If it happens that this stock breaks the 127.2% level, next stop is at 100% fibo level in which I can say that the resistance is not that strong. I guess it can proceed up to 164.79 where the 78.6% fibo level resides.
But if the support won't hold, we may see JFC at 161.80% fibo level (148.90).
Take note that all ichimoko indicators are still in bearish mood but the good thing is there's still a gap (see white circle) that needs to be filled.
Daily chart
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