Potential Top on the daily for a swift pullback
JSK has run over 350% without forming a daily higher low since Sept. 8th (~1.5 months and 31 trading days). This move has gone absolutely parabolic and hasn't formed support during that time. Currently we have the highest sell candle ever on the hourly showing a potential volume climax for the top. 
Also on the 4hr chart we have built up a lot of bearish divergence over the past 3-4 weeks likely to print a reversal candle with massive volume. 
Keep in mind before the run up this use to trade on average ~$8 million in dollar volume. We trade over $2 BILLION yesterday in dollar volume and today's volume is exceeding that with selling. As far as technical indicators go, the weekly was at a high of 92 and daily was flirting with 90 yet again. I have never witnessed a chart go this long in my over 3 years of trading without forming daily higher lows. With a lack of support built on the run up, I anticipate a very heavy pull back on this name.
Running fib retracements from our last daily higher low when this whole impulsive move began, we can look to some levels. Also note the bearish divergence built up on the daily chart. Look to at minimum $62.98 for the first area of possible support, if not we go much lower. Too much bearish divergence with zero support established on daily.
Running fib retracements from our last daily higher low when this whole impulsive move began, we can look to some levels. Also note the bearish divergence built up on the daily chart. Look to at minimum $62.98 for the first area of possible support, if not we go much lower. Too much bearish divergence with zero support established on daily.
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