Jaya Holdings in symmetrical triangle

Evening all,

I have Jaya Holdings, J10.SI, for today. In the past, I made some posts on triangles on Jaya’s chart. Today I have found two more triangles – one is historical and the other is still in the making actually.

Back in 2011, Jaya broke out of a very good-looking descending triangle. The path towards the downward target was a short one. Jaya then consolidated in the 42 cents – 48 cents region. Then, in late January, Jaya followed the shipping counters higher. As usual, after a big move, one would expect consolidation. And the recent one results in a symmetrical triangle in the making. All that is left is a breakout. It is not the nicest of triangles, to be honest. However, since it is a small one, I will accept the white empty space at the start. Volume behaviour confirms this as a triangle. Let us wait for the breakout before making any buy/sell calls on Jaya.

All analyses, recommendations, discussions and other information herein are published for general information. Readers should not rely solely on the information published on this blog and should seek independent financial advice prior to making any investment decision. The publisher accepts no liability for any loss whatsoever arising from any use of the information published herein.

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