Disclaimer: I have a long position in JEC.Although this stock is up eleventy-thousand percent today, I wanted to share the chart. In the short-term (especially after today) it's showing overbought on the hourly. However, it's worth noting that overbought conditions can persist in the shorter timeframes when a breakout occurs. There is still plenty of upside left here, but a better entry would be on a pullback, perhaps at $45'ish. I wasn't expecting such furious buying/buying-to-cover in the materials. As a result, I have taken 1/3rd off the table today.
Edit: Changed pullback target in the text above, was a typo (the blue line on the chart is the actual target, remains unchaged). Also,I will acknowlege that recommending buying on pullbacks in a bear market isn't the smartest thing to say :)
