With the PFE vaccine news, reopen stocks are ready to rock again. Restaurant have started to recover, but there is more upside room.
Looking at BLMN for the following reasons:
1. I have traded the stock from 9 up to the current levels and believe in the management and product
2. The officers of activist group JANA Partners have officially joined the BLMN board - we can expect to see spinoff or sell down of parts of the BLMN
3. Sales are rebounding, operating costs have been reduced and curbside is still strong and holding
4. BLMN has great management
From the trend analysis, the stock printed 18.05 and retraced. Given the reversal of the downtrend, the stock is bound to challenge the 18.05 zone and breaking through put the stock in 19-20 zone where many of the Wall Streets analysts have the price targets.
Bottom line, there is enough to trigger a long position.
Good luck.
Looking at BLMN for the following reasons:
1. I have traded the stock from 9 up to the current levels and believe in the management and product
2. The officers of activist group JANA Partners have officially joined the BLMN board - we can expect to see spinoff or sell down of parts of the BLMN
3. Sales are rebounding, operating costs have been reduced and curbside is still strong and holding
4. BLMN has great management
From the trend analysis, the stock printed 18.05 and retraced. Given the reversal of the downtrend, the stock is bound to challenge the 18.05 zone and breaking through put the stock in 19-20 zone where many of the Wall Streets analysts have the price targets.
Bottom line, there is enough to trigger a long position.
Good luck.
Trade closed: target reached:
Now time to eat