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Long Swing Play

Posted by StockBuz on May 7, 2011 at 2:02pm
Hat tip to GT for finding this play. JBL formed a H&S bottom on the weekly and came back to test neckline support which held. It is also in a BB squeeze and oversold on the weekly. On the daily, it then formed a rising wedge and broke out Friday on high-than-average volume. Long with a stop near $19 with a 3-6 month target of $35. Add on oversold pullbacks along with way and move stop up to below recent swing low.

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Tags: long-ideas, jbl
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