Friday, November 18, 2016

GrubHub Has Been Eating Through Its Gains $GRUB

Before we look at the weekly chart, we need to point out a bearish divergence in August through September where prices made higher highs but the momentum study made lower highs. This divergence foreshadowed the recent price decline. As prices have made lower lows in November, the momentum study has not diverged and suggests that prices can move lower.

Strategy: It looks like GRUB can pull back further and a test of the rising 200-day moving average line could happen in the next few weeks. If GRUB holds the $32 level, it is great, and if it doesn't, we could see further weakness to around the $26 area.

Looks like Cramer's shorting GRUB! lolol

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