Jones Soda (JSDA)

[Chart Addict]

Three technical reads on JSDA.

First, find the JSDA chart annotated with automatically generated pivot points courtesy of Stockcharts.com. Of particular importance over the short term are the two upperhead resistance points, R1 and R2.



Below is a standard Fibonacci grid applied to the JSDA chart. The low is not in dispute, as it sits on a line of support shared by several prior bars. The grid fits like the proverbial glove, clearly displaying support and resistance. This is good, because we all like stocks that are well behaved. (Note how well the Fib grid corresponds with the automatically generated pivot points in the preceding chart).



Finally, JSDA adorned with a Fib fan. As a general rule, I prefer to draw this projection from the reaction low - which in this case is at the same point right to the penny as are several preceding lows - to an upswing bar in a high pivot (as is the case here) or to another high price bar based on various other criteria.



Of course, what we would all like to see is the stock at some point fall back to form a nice 35 degree upward channel that would last for a few months. Only time will tell whether or not that actually happens.