Similar to the SOXX?

We just saw what happened to the SOXX when volume increased at support, link here.

From that update:

“Instead of volume contracting on the test (sellers backing away), it has increased (blue arrow).”

Next session, SOXX broke lower and kept on going.

Now, Jabil closed near support; volume increased 43.2% over the prior session.

It’s also possible, price action is posting a trading channel Fibonacci 13-Days wide (not advice, not a recommendation).

Stay Tuned

Charts by StockCharts

Note:  Posts on this site are for education purposes only.  They provide one firm’s insight on the markets.  Not investment advice.  See additional disclaimer here.

The Danger Point®, trade mark: No. 6,505,279