The company has managed to sell its fixed assets in order to get relief from its massive debt. Now the profits rather than getting consumed in paying debt have started to get accumulated. It might soon come out of grey waters as they are starting to show positive net profits. The book value of the company is at 14+, this is the price level which will reach when everything becomes fine(ish). I will accumulate more JP Power at mentioned price zone.
Disclaimer - This is not a buy/sell advice. This is just an educational video to show how prices work.
Price *can* (not will) bounce back to support. I have accumulated stock at 3.2, 3.6, and 3.8. Retracement will just create another chance to accumulate. Waiting for the price to fall like that in the future is just speculation.
Trade active
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First booking zone reached. Holding for 2nd target.
Trade active
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Target 2 reached. Booked partially, rest holding for book value
@nvn47, difficult to predict when stock is in-circuit since the natural movement is blocked. But my best bet would be in the region of 5.0 to 5.4 (by fib retracement). When stocks are highly bullish they tend to come back to 61.8% or 50% of the rally which brings the reversal region at 5.0 to 5.4. However, do your due diligence before following.