Why You Should Buy Stock With Your Breakfast At Cracker Barrel
Dragonfly Capital | Oct 20, 2016 12:54AM ET
Cracker Barrel Old Country Store (NASDAQ:CBRL) is that family style home cooking casual dining restaurant to epitomizes America: big plates, with lots of food and lots of calories, full of things that may not be so good for your body. But hey, you have to have some fun once in a while. And Americans seem to go there and expand there food boundaries quite often.
One of their favorites is the Country Boy Breakfast. They describe it like this ” Just loosen your belt and enjoy your choice of Country Ham, Pork Chops or Sirloin Steak* grilled to order, three eggs* cooked to order, Fried Apples, Hashbrown Casserole, Grits, Sawmill Gravy, homemade Buttermilk Biscuits, real butter and the best Preserves, Jam n’ Apple Butter (on request) we could find.” What is not to like? So how could you add anything to that? Well how about a side of 100 shares of stock?
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The chart above shows the price of Cracker Barrel stock (CBRL) since the start of the year. It moved higher into June before starting to work lower in July. But there are 3 signs now that the stock may have found a bottom and be ready to start back higher again. First is the volume during this consolidation in a tight range, since the end of September. It is falling off. Sellers are running out of stock to sell. Next is the RSI.
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This momentum indicator is working its way up out of an over sold condition and trending higher. Finally the MACD at the bottom has also turned and crossed up. These combine to give a positive outlook for upside using the low at 130 as your risk point. And wouldn’t you like to have to go to the restaurant for some ‘due diligence’?
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DISCLAIMER: The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.
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