JOY Forecast 3/29/16

Joy Global (NYSE:JOY) is a company that builds and supports the heavy equipment industry in the mining sector. The stock is now undergoing a counter cyclical re-tracement which we have been stalking for a buy signal. With the odds as they are now, we would expect price to drop down near the $14 per share level, then rally up to test the amended blue zone. If this can occur, profits should be taken to protect gains, then we will see if the power has shifted enough to fuel a new uptrend which should be able to take price much higher…$30 or more.