Is JFC going to hit 200 level soon?
We have seen the rise of JFC from 93 last August 2013 to as high as 186.20 last November 2013. The rise was followed by a retrace of 38.2% then it bounce and hit our target (JFC’s 38.2% Fibonacci Retracement level could be its springboard). Usually, a 38.2% retracement of a price move is followed by a 161.8% of that pullback. Does it mean JFC will hit 200 level?
RSI or Relative Strength Index is currently at 57.6, below overbought level.
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