After quite a dismal performance, today was a welcome relief to investors. Results were mixed but confidence was taken from the revenue increases and a pass was given to a decline in profits due to increased costs, in particular labor expenses. This looks like a nice risk reward long but look for continuation in price action first.
Zacks Rank: 1-Strong Buy 1 Style Scores: C Value | A Growth | C Momentum | B VGM Industry Rank: Bottom 43%(145 out of 255) Industry: Retail - Restaurants
fyi earning coming up
Price hit target of wedge, but could be a SHARK in play here. Might be bull flagging on this view. Safest play probably to to buy the b/o above previous high or look at the daily for entry at support. Hammer here so far, but the month is not yet over.
