NDLS is setting up in a textbook breakout pattern. After climbing 323% off from the COVID lows, Noodles began forming a large consolidation base. Profit taking resulted in an acceptable 26% retracement, followed by successively shallower dips that ended in a tight 6% range. The small-cap restaurant chain saw earnings turn positive last quarter and sales...
such a clean double bottom. tightening 5 months price action between $11.50 to $13.25. 4 consecutive quarters of sales growth for this fast-casual restaurant business
In the toilet... watching 3.50 and 5.10 levels with results tomorrow Last quarter, Noodles & Company posted a 33.33% negative earnings surprise Read more: www.nasdaq.com
You have to reach deep to find a single technical indicator to support owning this stock. RSI, MACD, Williams %R and AD all trending down. Staying in NDLS now is an emotional mistake and a fundamental disaster. Want something on the upswing? Put your proceeds in MSRT
entry price 7.05. risk reward ratio is quite nice.