In the daily bar chart of JAZZ, below, we can see two trends over the past twelve months. First is a steady downtrend from August to the end of December. This year prices have trended sideways with slightly higher lows from December to February to April and June. JAZZ continues to stall around $145 but that may not continue. Prices are testing the declining 200-day moving average line and the flat 50-day line.
The On-Balance-Volume (OBV) line has been mostly flat from April and the Moving Average Convergence Divergence (MACD) oscillator has been crossing above and below the zero line for several months.
In the weekly bar chart of JAZZ, below, we can see an improving technical situation. Prices are testing the declining 40-week moving average line but a weekly close above $145 will strengthen the picture.
The weekly OBV line has been firm this year and suggests that buyers of JAZZ have been more aggressive. The MACD oscillator is below the zero line but a test of the line is possible in the weeks ahead.
In this Point and Figure chart of JAZZ, below, we can see a potential upside price target of $155. A trade at $145.04 will be a breakout.
Bottom-line strategy: With a buy signal from our quantitative service and positive charts traders could go long JAZZ at current levels. Risk a close below $129 looking for gains to $155 initially.