JSDA - Chart setup for swing trade

Jones Soda (JSDA) finally closed above $17.00. It did it on weak volume and after a nasty pullback on Friday. That sell off on Friday and the weak volume today reveals that there just is not much interest in JSDA and the price advance has trouble sustaining itself. That is why I did not want to take an entry on JSDA until there was some kind of a base line to work from.

Now that it has closed above $17.00 we have a baseline in which to work from. Today JSDA closed on weak volume which is not good but we will watch to see where this goes. My setup for JSDA is a first buy point on the move over $17.85 (not before!). The second is on the move over the 50MA (the 50MA may offer some resistance but a move over that will signal increasing strength and is why I chose that as the second buy point).