JNR Resources Inc JNRRF

RE: Volume is Impressive

[st0ckpicker]

I agree Deadfred. I wouldn't have minded a little bit more volume but it was above average so I will take it. Here is my chart on JNN: https://tinyurl.com/47zwv You may have to paste the adress in your browser's adress bar to get it to link. I see a bunch of signs that we should be about bottomed out. First the primary trading channel is the dotted one. We tapped it today so that may have been bottom. The solid outer bounds are a lot less likely to get hit but we did touch the top one in the last run so a drop to the low one cant be ruled out. That lower Bollinger Band is nearly verticle in its race up to meet the price decline. It is very rare to see the lower band get turned back in this situation. It usually works out that they tap and the price flies the other direction (up). ROC and Stochastics both are bottoming. These are fast oscillators and usually the first to turn. MACD and RSI are slower so we need to wait and see if we get a confirm from those early next week. We also have the 50 Day EMA and the 50% Fibonacci retrace level (of the larger move) acting as support here. That all points to a reversal from this general area in my books. With all that said I would never bet my life on TA, all it does is show you what all the other technicians are looking at. It is good at increasing your probabilities but never a gaurantee (that is more of a disclaimer for anyone else reading this as I can tell from your postings that you understand that). Any disagreements or comments?