JBL earnings beat (EPS +8.16%, Rev +9.3%) but price broke trend line; next candle close determines if downside probabilities increase.

We had Jable. Jable actually came out with a good report guys. You can see they beat on EPS by 8.16% and beat on revenue by 9.3%. Nice nice beat and their guidance wasn't that bad but look at the slip and slide.

Now, initially we did pop up and we nearly came to the top end of this declining trend line right around $330, but then we slipped lost this long-term decline or inclining trend line.

Now, this is a big deal, guys. Now, I know it's only one candle down for the moment. You need to follow if you're a bull on Jable, you have got to follow where the next candle is going to be.

If we put in a candle close underneath today's candle, remember that NAC gas chart just the inverse that's going to put more probabilities in favor of more downside uh on the chart of JBL.

So, all right. So, if that happens and also too in the show, guys, what do we like to cover? We love to cover breakout, retrace, bounce plays. The same thing's true to the downside, breakdown, retrace, fade plays on the chart.

So, where are we going to find support where price can then eventually make a run at this declining trend line?

All right, let me do some work. Pull up the fibs and let's take uh the fibs here. Let's see here. Let's get a low pivot here. Let's go back. No, let's go to this low pivot here on March 30th.

You know why? Because this is the consolidation range before we broke out on this next leg up. In essence, kind of a left shoulder from this head, if you would. I take this to the top, Nike to the top pivot.

And oh my gosh, guys, we basically are there right now. $28,451. Price got today as low as $28439. So we hit that level. And if I go back on this chart, look at the high right here.

The high was $28,3.76. The high right here was $281.37. So right here in this zone, $ 281 up to $28451 is it solid level of support. One capable of potentially pushing price right back up here to 300 bucks on the chart of Jable.

You see very well the very next step of support is just beneath this gap fill here right around $273 to 266. So already hitting a level of potential support to provide another test of that inclining trend line.

Now just be mindful of where tomorrow's daily candle closes. That will help guide you uh on that play for the chart of JBL.