Jubilee Metals Group Plc Price: JLP Sets for a Recovery, Settling for a Pit Stop

PUBLISHED: Dec 13 2023 @ 10:22 | Comments (0) | More info about Azeez Mustapha

The Jubilee Metals Group Plc share (LSE:JLP) has set for a recovery, settling for a pit stop as it has touched a higher point of 7.

A strong purchasing wall has been established in response to the stock market’s recent notable advance from approximately a five-point level, enabling investors to maintain the hope of consistent gains in the operations that follow. In the long run of the market, the positioning points of the moving averages between the values of 6 and 5 are likely to cross, which might confirm that there will be more highs than lows.

Resistance Levels: 7.50, 8, 8.50
Support Levels: 5.50, 5, 4.50

What may happen now, at the point of 7, if the bulls in the JLP Plc stock market were to lose their consolidation motion?
A loss of consolidation movement around the point of 7 by the JLP Plc share purchasers may lead to a correctional trend to decimate the recent rises as the price sets for a recovery bid, settling for a pit stop around the point of 7.

The 15-day EMA indicator has been observed attempting to cross the 50-day EMA indication to the north side below the line of 6, indicating a significant increase in the stock market’s valuation due to price activity. Because the stochastic oscillators are in the overbought area, it is important to use caution when placing more purchase orders. However, given the current state of negotiations, investors still have more points to cover in the event that they are forced to exit their positions before they run out of money.

Learn from market wizards: Books to take your trading to the next

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

Follow @ItuGlobal

This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.