Technical Analysis - JE Dec 10th Thanks gwplant, I am glad that I can provide some valuable insight on this board.
Just reviewing JE again this morning, we are currently at $9.20 as we approach the ex-dividend date on Thursday. The moving averages of 9, 50, and 200 are around $9, $9.80 and $11 respectively. The MACD is providing a weak bullish signal as the MACD is positive to the 9 day moving average and the moving averages, while trending down, are starting to turn (the 9 day MA has already turned positive). The RSI is current at 49.62 and strengthening.
I expect that by the end of the week the stock will pull back to around $9 as the December dividend is factored in. Then we should continue upwards and the stock should reach around $9.50 by the end of December. Assuming no changes to the dividend, when the January dividend is announced, we should be reaching the 50 Moving Average and the stock should be trading in the $9.70 to $9.80 range by the January ex-dividend date.
We should also be seeing a quarterly earnings report by the end of January or early February and that will have an effect on where the stock goes from that point.
Steam