This may be a good opportunity for a breakout in Bloomin Brands.
We have reached the lower swing and are looking for support at current level.
Setup an alert to $27.30 and take a long one it goes above.
Happy Trading,
$BLMN Bloomin’ Brands Promotes Danielle Vona to Executive Leadership Team. New CMO Brings tremendous marketing experience to the table, Recent PT Upgrades and unusual darkpool activity. This looks like a no brainer.
www.businesswire.com
Resistance 1 : 32.80
Support 1 : 28.80
Support 2 : 27.20
BLMN after hit new High at 32.80 and now close above 30.00. Support_1 (28.80) will be support point for BLMN in short period of time.
Earnings boosted the price to its target. Now a fast EMA must act as support for the uptrend (if any).
The 21 daily will be used as main support as well.
With the PFE vaccine news, reopen stocks are ready to rock again. Restaurant have started to recover, but there is more upside room.
Looking at BLMN for the following reasons:
1. I have traded the stock from 9 up to the current levels and believe in the management and product
2. The officers of activist group JANA Partners have officially joined the BLMN board -...
So , first trade on BLMN was stopped out but I still think this has potential . Will try again at next resistance level if the opportunity presents itself.
Reasons for short entry .
RSI 71.87 in overbought territory
Debt over equity is atrocious at 225.08 and quick ratio is 0.3 , they do not have enough cash on hand to meet short term or long term debt.
Price to book is 352.83
Trading above avg target price of 20.62
Short float is 15.98% and Short ratio is 5.6
Risks :
Earnings on Feb 25, creates uncertainty...
Hey guys, BLOOMIN BRANDS is in a fake bearish push with pent-up buyers' attempt and low past buying volume. While leaning on the TIMEFRAME M1 one sees a marubozu with an abnormal volume of purchase carried out it goes in direction of VWAP. It is very plausible to break it in force at the same time to breakout the purchase price and to go to the last precedent...
Restaurant industry is back at levels before covid19 and NASDAQ:BLMN has been consolidating its run up right below $17.70 resistance level . I'll be watching this tomorrow after earning report is out of the way. A daily close above that level could trigger the next leg higher in the stock.
