Jamf Holding Corp. engages in the provision of Apple infrastructure and security platform of scale. It helps organizations including businesses, hospitals, schools and government agencies to connect, manage, and protect Apple products, applications, and corporate resources in the cloud even without touching the device.
Take a look at the 1-year chart of Jamf (NASDAQ: JAMF) below with added notations…
Chart of JAMF provided by TradingView
JANF has formed a key level of support at $30 (green) over the past year. The stock has made it back down to that mark and appears to be set to rally off of it once again. However, if the support were to break, lower prices will likely follow for JAMF.
The Tale of the Tape: JAMF has key support at $30. A trader could enter a long position at or around $30 with a stop placed under the level. If the stock were to break below the support, a short position could be entered instead.
Before making any trading decision, decide which side of the trade you believe gives you the highest probability of success. Do you prefer the short side of the market, long side, or do you want to be in the market at all? If you haven’t thought about it, review the overall indices themselves. For example, take a look at the S&P 500. Is it trending higher or lower? Has it recently broken through a key resistance or support level? Making these decisions ahead of time will help you decide which side of the trade you believe gives you the best opportunities.
No matter what your strategy or when you decide to enter, always remember to use protective stops and you’ll be around for the next trade. Capital preservation is always key!
Good luck!
Christian Tharp, CMT
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