OTCPK:JENGQ - Post by User
Comment by
steam73on Nov 22, 2012 11:11am
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Post# 20631727
RE: RE: Cash is NOT okay
RE: RE: Cash is NOT okay
Reviewing JE this morning, stock price has tracked back to $8.90 as I thought it would. The RSI has now crossed the oversold threshold and is sitting just above 30. The MACD indicator is still negative, but the slope is changing and should track back to the signal line in the next couple of weeks. Stock price is also tracking above the bottom bollinger band which is normal to see as well.
What do I expect going forward? I expect the stock price to consolidate around the $8.80 range to stabilize and the volatility reduced. As the bollinger bands tighten and the MACD turns positive I see a base forming for another rise as we get into December and the company announces the December dividend. First week of December the share price should be around $9.15 as we move towards the ex-dividend date.
A caveat though...this analysis assumes the dividend will be paid at current rates and that no changes are anticipated. If management stays the course then I think that will be a good sign for this stock. This stock will require some patience as it will take some time for it to recover.
Steam