jsl at major resistance

11 de jul. de 2021

jsl has completed its round bottom formation for second time. round bottom formation is a reversal pattern in which the selling pressure is seen first at bottom levels bulls start gaining power and complete the curve. as you can see the curve to be completed and its at major resistance near 120. it has retraced twice from this level thus making it a physcological level. the price might see some correction forming a handle formation as in cup handle pattern. if the price crosses 120 from high volume the stock might see further upside but i oubt it as profit booking might start at this level