Jack In The Box Inc.Short
Bearish technicals with resistance at 93.40
The high ADX indicates that this negative trend that has emerged since March is strong and thus trading in the direction of the trend would be advisable. The RSI is not oversold and the stock has backed bounce aggressively off its lower bollinger band back above the 20 day simple moving average. The MACD has already crossed up above the signal line indicating that the turn around from prior lows is likely already complete and thus there is little reason to remain long for a turn around trade. The price is currently trading around its downtrending resistance line. Stop above structure highs would be recommended. NOTE: earnings are due to be released soon.
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