During the Lightning Round segment of Mad Money Thursday night one caller asked Jim Cramer what he thought of Inseego (INSG) : "I'm not happy with how this stock acts. It's down 45% and I think it deserves to be," was Cramer's reply.
Let's check out the charts of this company that is involved in designing and developing fixed and mobile wireless solutions.
On March 30, when we last checked on INSG, we found that "INSG may still have a good fundamental story, but from my simple perspective the charts remain unattractive. Continue to avoid the long side."
How do things look now?
In the daily bar chart of INSG, below, we can see that the shares "topped out" in January/February and fell quickly to a low in May. Prices rebounded into June but have since declined again. The slopes of the 50-day and 200-day moving averages are negative.
The On-Balance-Volume (OBV) line has been weak but made a minor low (for now) in August. The Moving Average Convergence Divergence (MACD) oscillator has been below the zero line for much of the past 12 months.