Dutch Bros Channel on the move up.

seanchassard Updated   
NYSE:BROS   Dutch Bros Inc.
In my opinion it looks like we are nearing support for a little move up within the support and resistance, I am thinking we are likely to see a bounce up to $30, and looks like it shouldn't drop below $25.00. Only time will tell.
A double bottom here for a relief from the down side and trend up hopefully. We may have to wait for earnings for the reversal but I see value in buying here.
DOWN TREND BROKE - Price Target is $29, may not happen till mid/end of November but I will be here watching it. Earnings will make or break that PT for us. They are doing good at paying off debt and focusing on new locations!
Reconfirmation on broken downtrend. The highest PT will be $31 with a main PT at $29. Even broke bullish from the most recent trend here. Happy to finally see this getting the gains it so deeply deserves. it was truely a smart decision by BROS to pay off debt with interest rates coming in longer and higher than expected but fortunately the recession talk has seemed to be put on the back burner with the most recent jobs report coming in hotter than anticipated. That is a double edge sword if you take into consideration that Jerome Powell will take that information and consider another rate hike...
I believe going into the winter months we should continue to hold interest rates where they are considering the monthly swings of the real estate market will make these months harder without more rate hikes. Home prices are swinging down as anticipated but I believe we have a little more room to drop, then prices will likely hold steady for the next 5 years. No crystal ball here though, just what I am anticipating. Those interest rates will without a doubt effect BROS though in regards to their ability to aquire new store/franchise locations and their ability to use any debt effectively. The only reason to borrow money is if it will help you profit faster. Hopefully they do not make selling stock a trend to pay of debt though. Only time will tell.
Cup and handle like nobody's' business on the 4 hour chart. Just thought I would share this here
Back down to major support unfortunately due to the overall market. provided we do not break 24.50 I think we are just fine and still in tact for a major move up.

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