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Jaya Holding is forming a symmetrical triangle and looks like breaking out. Need to keep a close eye on the future price movement. Immediate support at $0.673 which is a 78.6% Fibonacci Retracement Level, followed by the uptrend support (which is also 200D MA support). Price target for the breakout is $0.90.
Jaya Holding is reaching a very critical resistance between $0.66 to $0.67. This level considered a 4 in 1 resistance where 20D MA, 50D MA, 78.6% Fibonacci Retracement Level and previous uptrend support line. If this resistance can be broke, there is a good chance to start an uptrend. $0.57 proved to be a very strong resistance as the stock price bounced back from this 200D MA which is also the 61.8% Fibonacci Retracement Support.
Jaya Holding has finally broke out successfully and hit the target price of $0.58.
http://mystocksinvesting.blogspot.com/2009/12/jaya-holding-is-this-time-real.html
The next resistance is seen at $0.60.
The immediate support is around $0.57 and $0.58.
