BIG PICTURE MONTHLY CHART ANALYSIS ON CRACKER BARREL (CBRL)
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.
Only trade I see is sell a Sep 140/160 Strangle for $1.50
CBRL 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
Super strong gap. Breaking out of a distribution phase. This stock could see $200 this year. Buy the dips. Insanely strong bullish gap and go. Be bullish with your analysis on CBRL... for A WHILE. IF you get stopped out, good risk mitigation. But for my LONGER TERM traders, edge is bullish
CBRL looks good to 170, maybe by fathers day
Consumer discretionary restaurant sector down, possible up side move short