MichaelGLamothe
Long

GRUB finding support and setting up

NYSE:GRUB   GRUBHUB INC
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On this daily chart , we can see that GRUB found resistance at the $40 level after gapping up on earnings . It spent about a month trading below this level and then finally broke above it on 8/31. Since then, $40 has turned into a support zone . Now the 21ema has crossed above $40 and offers an additional layer of support.

Presently, GRUB is trading between $41.91 and $40 and offers a very attractive reward:risk entry on a break above $42 with a clear exit below $40.

The RS line is near 52wk highs along with price. This shows GRUB's relative outperformance.
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