As indicated in the weekly chart below Jabil Circuit (JBL) rallied from 2009 to 2012, however this rally was extremely volatile & showed large pullbacks sometimes even breaching major pivots to just turn back again. Overall the stock did gain over 600% but it was really an investors nightmare to remain in the stock. Now after a year long consolidation, the stock again began to move up & made it out of it's top resistance range, but again has started to see large dips recently.
The stock is an extremely volatile investment option & should only be held by investors that are open for large risks in their portfolio. But as risky stocks go it is a multi-bagger.
The stock was headed for a very strong resistance at 22.5 & has since failed to remain over it. It quickly lost base over 22.5 which goes to say that the stock is not a good investment hold as of now especially if it breaches any other lower support levels. Support levels are seen at 21.4, 20 & 19.5. The support level at 21.4 if broken will take the stock to much lower levels & will make it even tougher for it to move back up again.
Resistance is very strong at 22.5, moving over which is very critical & base formation patterns above this price level are necessary for the future of any rally in the stock. There is also another minor resistance at 23.5.
As of now the stock does not look like a good hold for investors unless it can make it above 22.5 & stay above it. The stock also in general is very volatile & risky in nature so best avoidable for the risk averse.
Click to enlarge - Crude Oil NYMEX Daily Chart