Time For The Casual Dining Experience
Dragonfly Capital | Apr 09, 2013 01:02AM ET
Many stocks in the restaurant space have been moving well over the last few months. Those on the extreme like Ruths Chris Steak House, (RUTH), and Del Frisco’s, (DFRG), have had their move as have Burger King Worldwide, BKW and Wendys, WEN. But now it is time for the causal space to take a turn higher. These two stocks, that are probably not on your radar are poised to move now. Bravo Brio Restaurant Group, BBRG
Bravo Brio Restaurant Group, BBRG, has been moving higher along the rising 50 day Simple Moving Average (SMA) as support. It has also been acting as the bottom of an ascending triangle since late February. The top is at 16.15 and it is right there now. With support from a Moving Average Convergence Divergence indicator (MACD) that is turning up and a Relative Strength Index (RSI) that is in bullish territory, it could break higher any day. If it does, the Measured Move will take it to 17.85.
Bloomin’ Brands, BLMN
Bloomin’ Brands, BLMN, is breaking above a channel between 16.70 and 18.85. The left indicates that there is no price history higher a plus. There stock is also in the midst of a AB=CD Harmonic that targets a move higher to 22.70 at D. This also has support from the bullish and rising RSI and the MACD that is curling higher. So, what are you doing for dinner?
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 Original post
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