Just Energy Group Inc. (NYSE:JE) Looks Technically Strong Today

[[tagnumber 0]]Shares of Just Energy Group Inc. (NYSE:JE) jumped in the last trading session while the chart looks promising for more gains today. After the working capital deficit reported for the end of the second quarter, just recently the company announced a new credit line that should provide cash for the current operations.[[tagnumber 1]] [[tagnumber 0]][[tagnumber 3]][[tagnumber 1]] [[tagnumber 0]]JE closed with a 2.21% increase yesterday at $6.02 for a share. The trading volume for the day was lower, yet the stock price stays above the 10– day moving average which serves as support. Technical indicators looks bullish for JE today and the stock could jump towards the high end of the trading range.[[tagnumber 1]] [[tagnumber 0]] [[tagnumber 1]] [[tagnumber 0]]JE sells natural gas and electricity to residential and commercial customers under long–term contracts. Its latest quarter report showed a small working capital deficit, however, the company‘s sales increased and it also had positive cashflow from operations which is a long–term positive signal. JE large debts can make the company unattractive though as they are in the form of convertible notes that hide dilution risks for shareholders.[[tagnumber 10]][[tagnumber 1]] [[tagnumber 0]] [[tagnumber 1]] [[tagnumber 0]]Though the management claims debt reduction is a major priority, it seems rather the debt burden may become larger. Earlier this month, JE announced a renegotiation of its existing $210 million credit line facility. Under the new agreement, the term was been extended by three years to September 2018 and JE can now draw up to $350 million under that facility.[[tagnumber 1]] [[tagnumber 0]] [[tagnumber 1]] [[tagnumber 0]]At the end of the month, JE is going to pay its regular quarterly dividend which is in the amount of Cdn.$0.125. The right to receive the payment will have shareholders of record on September 15, 2015.[[tagnumber 1]] [[tagnumber 20]] [[tagnumber 1]]