Via mymoneylife.blogspot.com/:
Last month, I posted on Jones Soda (JSDA) and said that it looked like the stock was gettign some fizz back.
Since then, the stock briefly dipped back below its 200-day moving average, but recently recovered in a big way.
There has been no real news to account for the surge in the stock, but over the last 2 days it has spiked as much as +25% higher on a big pickup in volume.
This brought the stock back above its 200-day, but today it came close to bumping up against its overhead 50-day average. This is a natural area of resistance, and I expect the stock to pullback and digest this big move. But after that, I believe the stock will get back above this level and move back into the low $20s.
The stock got way, way ahead of itself on that outsized run to $32 back in April. I actually shorted the stock briefly, as I thought it would retraced some of that move. But I didn't think it would come all the way back down to $14. I view any level in the mid-teens as attractive longer-term.
long JSDA
$17.19 (07/07/07)
