timwest
Short

Jack In The Box Inc - JACK - Daily - Rising Wedge Into H&S Top

NASDAQ:JACK   JACK IN THE BOX INC
160 0 2
JACK IN THE BOX INC             - JACK

This is QDOBA restaurants - the Chipotle Mexican Grill             competitor (from my perspective). Several QDoba's have opened where I live and they seem very similar to CMG             to my untrained eye.

However, from a technical perspective (my "trained" eye), I see an EXHAUSTION pattern in the price action that suggests a meaningful amount of downside is possible here for JACK.

Do you see the H&S top and the rising wedge? Well, now you do because I labeled it. I had thought to leave it off and then click on the chart and have it toggle "ON" the graphics and "OFF" the graphics so you can see "BEFORE" and "AFTER".

Tim 57.58 -0.34 last 11:03AM EST June 3, 2014
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