Papa John's $PZZA has been recovering since it hit a low on the year of $38.05 a share in August. The daily chart shows price rallying back above the moving averages and breaking above some other key resistance factors.PZZA Daily Chart(click to enlarge)Broken Resistance:- Again, the daily chart shows PZZA breaking above key resistance levels in early November. - However, as we wind down the month this week, price has been retreating sharply. Bearish Continuation?- The bullish breakout extended to $60 and then price retreated. - The inability to clear $60 suggests bears are still in control, or at least that bulls are weak.- Price has returned back below the cluster of moving averages as well as below a rising trendline. - This suggests failure of bullish attempt and now success of a bearish push. - The RSI has fallen below 40, which reflects loss of the prevailing bullish momentum.- Inability of market to hold PZZA above $50 also suggests bears are in control.- Finally, The fact that the bearish price action is much more decisive than the previous period of bullish price action between August and November. Choppy bullish action followed by decisive bearish action suggests that the primary mode right now is bearish. Key Support:- The market is either still bearish, or at most sideways.- Based on the daily chart, we should anticipate support again if price falls to $40. Even if there is a break below $40, there could still be support around $37.50. - But judging from the RSI, which held below 60 for the most part, PZZA will have strong bearish momentum attacking this $37.50-$40 support area. - I think PZZA is heading towards $30, especially if general market risk aversion persists into 2019.PZZA Weekly Chart(click to enlarge)