An 11-year-old boy read every investing book in his financier father's office, bought his first stocks. When his six $38 shares of Cities Service bounced between $27 and $40, he pulled out. The share price then soared to $202, and he learned the value of staying patient and holding. Seven decades later, patience remains key to Buffetts's investing philosophy.
Same story here, Jat share price bounced between 16 cents to 18 cents, resistance was established by using the previous reaction high 18 cents, support at 16 cents is strong enough to prevent the price from declining further. A break above 18 is a victory for the bulls (demand) and a break below 16 is a victory for the bells (supply). Share price will likely gap up and see 19 cents tomorrow, which is a clear indication of demand winning out over supply, great opportunity to get in on the action.
My conservative estimate of the jat's fair value today is 30 cents. Let the action begin.
DYOR IMHO GLTA
