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Save your seatJBS slid from about $18.65 in early April to $12.32 in late May after a weak post-earnings reaction and a push to fresh 52 week lows.
The stock has the potential to go down if it loses $12.19, with room toward the $11 to $11.50 area if sellers stay in control. Another quarter of negative free cash flow or more pressure from high cattle costs would accelerate the downside.
If JBS can hold the $12.20 to $12.50 area, a bounce toward $14 to $15 is on the table. Resistance at $13.25 is the first hurdle, and better cash flow or steadier U.S. beef margins would help.
We don't currently have information about JBS N.V. Class A's earnings.