Papa Johns International $PZZA fell back into its bearish ways in late November/early December after a few months of bullish recovery. I think if price comes back to the August and 2018 low around $38, it will break lower even though this is a key support going back to 2014. PZZA Daily Chart(click to enlarge)Bearish Continuation:- On the daily chart we can see that price was in a bullish pullback from August to late November. - However, the subsequent dip was sharp and therefore showed us that bears were in charge here. - If price starts to anchor below $50 (show resistance around $50), we should anticipate downside to at least test the low around $38.- If price DOES make it down to $38, I would not rely on this key support anymore. - As noted, the most recent price action shows us bears are in charge. - There is an overall rounded price top seen on the weekly chart, for which the $38 area is the neckline.- On the weekly chart, we can see that price has started to hold under the cluster of moving averages (200,100, and 50-week). - Finally, the weekly RSI held under 60 for the most part, reflecting the maintenance of the 2017-2018 bearish momentum. - Don't be surprised that price reaches a low of $30, or even $25 in 2019. PZZA Weekly Chart(click to enlarge)