Jamba was doing OK until the Fed decided to piss off the market. It opened up sharply and touched $5.60 but it pulled back. Jamba was hovering slightly negative for the day, around $5.20, until the Fed announcement. It then bounced up and down for the rest of the day between that and it's support at $5.00. It broke through the support slightly, and settled at $5.05.
Now I still think that Jamba could easily go up from here since I really don't think the Fed has anything to do with this stock, and as people realize it, it could continue on its way up. However, it is flirting with going under its level of support, and if it does, watch out below. Tim Sykes, another blogger I read, has even decided to short the stock. I don't necessarily disagree with him, and actually think his logic is pretty sound. He is saying the same thing I am. If Jamba falls below its support, it is going to go down to it's next level of support, right around $4.50.
I bought at $5.03, he shorted at $5.04. One of us will be right, it will be interesting to see which one :)
"I bought at $5.03, he shorted at $5.04. One of us will be right, it will be interesting to see which one :)"ReplyDelete