As mentioned earlier, I sold JSDA. Too many negative happenings. To name a few:
1. bearish candles (Bulls can't win lately)
2. OBV down
3. Support is being tested and broken.
4. MACD made lower highs on stocks new highs.
I don't feel comfortable being long on this one right now!
The base here seems a little loose as well. (Good bases normally fall 20% to 40% or 50% from their highs. Go any deeper and a stock faces even more steamed holders that have a loss. It's tough to overcome this "overhead supply" of potential sellers and hit new highs. this from IBD)
Institutions are the ones that support stocks in their bases. You want to hitch your wagon with them not the retail side.
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