CBRL - Trade setupCBRL reported and missed today. I love this gap below support and think this could run.. This is a potential bill paying trade for people. I'm getting in at the open if it opens below this enter line.
OLD trade ideas
CBRL Broadening Top and Upcoming Dividend! (Price target: ~$176)The Broadening Top pattern forms when the price progressively makes higher highs (1, 3) and lower lows (2, 4) following two widening trend lines. The price is expected to move up or down past the pattern depending on which line is broken first. A bit of a toss up since the broadening top formation appears much more frequently at tops than at bottoms, and therefore usually has bearish implications. In this case, however, we see a strong up-trend with an Average Directional Index just shy of the 25 mark. Set limit order above market price to be sure we are looking at a bull broadening top, or for added risk buy the retracement when RSI corrects below 70. For best results take 50% position at each. Consider stop-loss below breakout price.
Added confidence from the fact that Cracker Barrel is recording a $1.20/share dividend on Jan 11th, issued on Feb 5th. Dividend hunters could help drive this trend up. CBRL reports earnings 02/20 BMO and Estimize revenue expectations are 0.77% higher than Wall Street's.
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Cracker Barrel is going up higherCBRL is bouncing off its green trendline and I am expecting it to go back up to as high as within the red resistance lines. It is coming off a decent earning and has a good dividend yield.
CBRL - Key support breakdown short from $148.42 to $139.13 Looking to break 148.43. Target 139.13, Stop signal 152.33
* Trade Criteria *
Date First Found- August 23, 2017
Pattern/Why- Key support breakdown short
Entry Target Criteria- Break of $148.43
Exit Target Criteria- $139.13
Stop Loss Criteria- $152.33
Please check back for Trade updates. (Note: Trade update is little delayed here.)
LongI like this stock and these are my thoughts:
The stock stopped today at a very strong support that lasted from 2015-03-31 to today. It was a resistance from the beginning to 2016-05-31 and then the resistance line became a support line. The stock bounced 3 times and bounced back higher and im expecting the same thing tomorow. There is a nice engulfing pattern so that brings more strenght for a reversal of the trend. Not only the fact that there is a nice support line, a nice engulfing pattern but there is also the MA200 who acted as a support. Why an engulfing pattern is strong? This is because friday , the stock did not move at all and was very indecisive creating a small body. Then ,the next day (today), the stock gap down. With a gap down, the bears took the control but then, the stock pushed higher so the bulls took the control and finished the day with power. The second candle engulfed the first one and now we see that the emotions went to indecisive to bullish.
BIG PICTURE MONTHLY CHART ANALYSIS ON CRACKER BARREL (CBRL)BIG PICTURE MONTHLY CHART ANALYSIS ON CRACKER BARREL (CBRL)
CBRL at 130.98 support. Retesting for a BUY.Might have reach support and bounce from 130.98.
Waiting for a retest for a BUY.
If breakdown 130.98 support will be more to a SELL.
CBRL- Short from current level, target 147 & lowerCBRL broke down it's gap resistance today, and looks a interesting short from the current level. Moneyflow is negative & heading down. Our primary target is 147
Reports for Breakfastwhole sector has sold off nearly 10% then fully recovered in one day or just kept going higher, put in an order to buy at 120-125premarket if you like that for this name.
Pull Back Done? Possible Entry TradeI have liked CrackerBarrel since October and made some good money on the run up. Today I added February 130/125 1x2 Put Spreads for a 20c credit to to possibly start a position. My thinking: It is at a 23.6% retracement, if it holds here and reverses then keep the credit. If retraces 38.2% then I am at max pay out and into the stop with a 120 basis., 50% retrace also puts me in at 120 but at the market, also closes the gap. Below that I have some work to do.
CBRLWhat a beautiful move. The volume is great and those last for candles are strong, but looks extended to me and I'd expect some consolidation in the coming weeks.
