Hey Joe, where you going …..

• Posted by Greg Harmon
• on September 24th, 2015

Forty years ago Jimmy Hendrix was asking this question in an entirely different situation. Today St. Joe Company ($JOE) invites the same question. Well sort of. Take a look at the chart below.

The stock pulled back from a consolidation at 19 through April. It found a bottom and based at 15 through June before turning back higher. It is now 2 steps into a reversal higher and consolidating again. The price is solidly back above the SMA’s and a Golden Cross (50 SMA moving up through the 200 SMA will print as early as Friday.

The momentum indicators are strong with the RSI Running flat with a slight bend up in the bullish zone and the MACD holding during the consolidation. The Bollinger Bands® are shifting higher as well. So the question today is, “Hey Joe, where you going….up or down?”

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