During Wednesday's Lightning Round segment of Mad Money one caller asked Jim Cramer about Inseego (INSG) . "This is the stock of broken dreams and I'm done with broken dreams," replied Cramer of the provider of 5G network hardware.
When we last looked at INSG back on March 30 we wrote that "INSG may still have a good fundamental story, but from my simple perspective the charts remain unattractive. Continue to avoid the long side."
Let's check out the charts one more time.
In the daily bar chart of INSG, below, we can see that the shares declined from late March into May before a rebound rally to June to the $11 area. Prices have weakened again into July. Prices are trading below the flat 50-day moving average line and the declining 200-day line.
The On-Balance-Volume (OBV) line has moved up and down with the price action. The Moving Average Convergence Divergence (MACD) oscillator is below the zero line but has narrowed towards a possible future upside crossover.