ShakeShakeLeg
Long

Let's Those Wings Fly Higher!

NASDAQ:WING   WINGSTOP INC
** Likes and Comments are welcomed; New Subscribers have wings! **

What I see...
:: If any restaurant would survive this pandemic, it would pizza delivery... and Wingstop type of joints where the food remains tasty (and presentable) after a delivery or curbside pick-up. I did a quick test on their website... the bill for 40 pieces of wings for pick-up was close to $50. Add another $10 for delivery!
+ Prices is pulled back last week and regained ground later in the week to push towards 52w high
+ 10ma has just crossed above the 50ma
+ A light dip in RSI from the overbought zone
+ MACD is in positive territory

- 10ma is still very far
- RSI is coming close to overbought territory

What I setup...
+ Long above 52w high
- Stop at -3w low
+ Target at .618 Fib
:: Duration - months!
-
Trade active: Setup triggered today; Long entry!
Trade active: Concerning to see such a weak bar painted on a very bullish day. The DOW was up 900+ points! Moving Stop to 116 to limit losses.
Trade closed: stop reached: Stopped out; Loss -0.55R

Comments

This was already up huge lol, I think it pulls back to 100-105 area before going higher.
Reply
@KenJi333, Yes... and today's bar may prove you right, I'm afraid. :-)
Reply
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