We reviewed the charts of National Beverage Corp. (FIZZ) on September 2 before the company released its latest earnings. We said that, "FIZZ has rallied strongly the past month leading up to [its] earnings report. I could be wrong but traders seem to be expecting a really strong report and prices could be vulnerable to a pullback if they disappoint. I would be willing to go long FIZZ after a pullback."
With those earnings now behind us and TheStreet.com's Quant Ratings service upgrading FIZZ to a buy today, a fresh look at the charts is in order.
In the updated daily bar chart of FIZZ, below, we can see that prices have pulled back a little in recent days. The On-Balance-Volume (OBV) line shows some softness this month so far which tells us that sellers of FIZZ have been more aggressive. FIZZ is above the rising 50-day and the rising 200-day moving average lines.
The Moving Average Convergence Divergence (MACD) oscillator has crossed to the downside for a take profits sell signal.
In the weekly bar chart of FIZZ, below, we can see that prices are above the rising 40-week moving average line.
The weekly OBV line shows a little softness since July and the MACD oscillator narrowed in August but has since widened out and is bullish.