RRGB has the hallmarks of a stock that could potentially be a great winner. It broke out of it's base formation on 1st March on earnings beat with a strong breakaway gap (Breakaway gaps signify the beginning of a new trend and does not get filled in the near term).
It then proceeded higher over the next few days before pulling back to the breakup level @ 10.60...
Let's have some fun!
This hamburger joint chart looks juicier than most others. Clean setups across the board:
👉Nasty downtrend (actually goes back to ~$92)
👉~8 months of compression at historic lows
👉Ran the all time lows before breaking up
👉Clear 🎯's, though obvious battles will likely need to be fought at each level.
Invalidation: New lows kill the setup imo.
After a new recent low (Spring) $RRGB seems to have broken it's breakdown downtrend. Maybe we will see it return to $14 and beyond again? Also they have good food so I hope they go up lol
RRGB has been getting hit hard
I pose a reversal with this inverted H&S structure shown with a bars pattern in green
This bottom also aligns well with previous bottoms on this Weekly chart
Recovery scenario
RRGB has doubled topped and is experiencing a pull back. Many state governments has announced restaurant restrictions, which will likely lead to another quarter of net losses for restaurants like RRGB.
Red Robin is a stock that is expected to surge huge, given the returning prospect of indoor dining
It gapped up monday 11/9 and closed at highs.
Tradingview is giving RRGB a "strong buy"
Red Robin should be able to return to their 12% margins soon, their cost of goods and services should be lowered by an overall trend of lower beef and agricultural prices. This combined with more freely opened stores in major markets should allow them to profitability for Q3.
Red Robin Gourmet Burgers, Inc. :Good buying opportunity
RRGB
reported weaker-than-expected results for its second quarter on Tuesday. Red Robin shares plunged 9.2% to $9.90 in the after-hours trading session.
RRGB getting support from previous resistance and the 20-day EMA while contending with the 50-day SMA. Aggressive traders can take entries here but I'd rather see a green day to confirm the support before putting money on the line. 26% short interest so this thing can really move if it catches a bid.
Red Robin Gourmet Burgers, Inc. develops, operates, and franchises full-service restaurants North America. It serves a variety of salads, soups, appetizers, entrees, seafood and desserts. The company was founded in September 1969 and is headquartered in Greenwood Village, CO.
Stock has built a nice base throughout 2019
Possibility of a short squeeze with 24.65% held short
Company profile
Red Robin Gourmet Burgers, Inc. develops, operates, and franchises full-service restaurants North America. It serves a variety of salads, soups, appetizers, entrees, seafood and desserts. The company was founded in September 1969 and is headquartered...
