Jabil Circuit (JBL) Message Board

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Technology Stocks : Jabil Circuit (JBL)

JBL 230.38

-0.6%

11:00 AM EST

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To: gs who wrote (2499)	1/16/1998 3:24:00 PM
From: Harley Morgan	Read Replies (1) of 6317

How about the people who bought in mid $40's in late November only to see the stock go to $29's. I'm not negative on JBIL or the fundamentals. But, these fundamentals have been in place for a long time and this stock is in a solid downtrendline since 10/9/97. Each rally is bumping off the upper trendline (now about $40/shr) and each down-turn has traveled to the lower trendline (now about $24). JBIL already broke its major resistance coming down (6-18-97 at 42 1/2). Next resistance broken (6-17-97 at 34 3/4). Next resistance is 5-28-97 at 32 5/8. This line was not broken by a close below that line during 12-12/13-97 crash (within 1/8) and held on high volume [Very Good Line]. But now we are squeaking down and this resistance must not be broken otherwise we MAY go to mid to upper twenties (Resistance at 27 5/8 on 5-06-97). The turning point is coming because this stock will not waffle in the middle of the trend and two resistance points in play. Which direction? Also, given these fine fundamentals - Why is the stock drifting down in a rising market this week. Safer to jump on the bull after you know his tame then get trampled by the bears on the way out. Just a caution. Hope it holds. PS: This is why Fenton loves the play on this one so far. It's obeying the rules - Stop at Upper Trend and travel to Lower Trend.

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