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Last month, I wrote about Jones Soda (OTCQB:JSDA), and said that it looked like the stock was getting some fizz back.

Since then, the stock briefly dipped back below its 200-day moving average, but recently recovered in a big way.

click to enlarge
JSDA Chart

There has been no real news to account for the surge in the stock, but over last Wednesday and Thursday, it spiked as much as +25% higher on a big pickup in volume.

This brought the stock back above its 200-day, but on Friday 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 out-sized 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.

Disclosure: The author is long JSDA.

Source: Jones Soda: What's Behind Its Recent Surge?