Monday, December 18, 2017 11:59:22 AM
Today, leading electronic manufacturing services and solutions company, Jabil Inc (NYSE:JBL), is failing to participate in the broad based market rally. JBL stock is declining lower by 0.45 cents to $27.42 a share. Last week, Jabil Inc reported earnings, but that did not help the stock price. Shares of JBL have been under pressure since September 19, 2017 when the stock traded as high as $31.60 a share.
Traders should note that JBL stock is now trading below its important 50 and 200-day moving averages. This puts the stock in a weak technical position on the charts. The next major support level for JBL will now be around the $26.25 level. This important area is where the stock broke out in March 2017. Often, equities that are declining will be defended around their prior break-out levels. I will be looking to play JBL soon, so watch this level.
Nicholas Santiago
InTheMoneyStocks
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