Fastfood giant Jollibee Foods Corp. (stock symbol: JFC) has been having a very tough time since my first post, and it has slowly made its way down after topping out close to 180 before the new year. The stock has gapped down several times last week, slicing through 160 like it was not there at all.
The TRIX indicator has been pretty much bearish even before December, and it could enter a new bearish phase (now below the zero level) if 150 would not hold its ground.
TP’s Advice: Avoid this stock. The gapping actions seen lately are not desirable. 150 must hold. If not, you could say hello to 120-130… or possibly lower.