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Tickers in this Article: JBL
New York, September 17th ( - Shares of Jabil Circuit, Inc. (NYSE:JBL) closed the session at $22.70 just above calculated resistance at $22.39. The stock effectively broke out and grasped the attention of momentum traders, which could eventually push the stock to a different trading range.Jabil Circuit, Inc. (NYSE:JBL) is an electronic manufacturing services provider for international electronics companies in the communications, personal computer, peripheral, consumer, and automotive markets.

The stock was trading in a well defined range with support at $20.61 and resistance at $22.39. Given that this range was broken, traders will be closely monitoring Jabil's price action to gather clues on the future direction.

From a technical perspective, it can be expected that previous resistance becomes support, as the new range gets defined. However, given that Jabil Circuit is still near the broken resistance level, traders will be focusing on the $22.39 level to see if the stock holds the breakout without rolling over.

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