Fine Dining and Fast Food Broke Out – Now Its Time For Casual Dining

• Posted by Greg Harmon
• on April 9th, 2013

Many stocks in the restaurant space have been moving well over the last few months. Those on the extreme like Ruths Chris Steak House, $RUTH, and Del Frisco’s, $DFRG, have had their move as have Burger King Worldwide, $BKW and Wendys, $WEN. But now it is time for the causal space to take a turn higher. And these two stocks that are probably not on your radar are poised to move now.

Bravo Brio Restaurant Group, $BBRG

Bravo Brio Restaurant Group, $BBRG, has been moving higher along the rising 50 day Simple Moving Average (SMA) as support. It has also been acting as the bottom of an ascending triangle since late February. The top is at 16.15 and it is right there now. With support from a Moving Average Convergence Divergence indicator (MACD) that is turning up and a Relative Strength Index (RSI) that is in bullish territory, it could break higher any day. If it does the Measured Move takes it to 17.85.

Bloomin’ Brands, $BLMN

Bloomin’ Brands, $BLMN, Is breaking above a channel between 16.70 and 18.85, Looking to the left shows that there is no price history higher a plus. There stock is also in the midst of a AB=CD Harmonic that targets a move higher to 22.70 at D. This also has support from the bullish and rising RSI and the MACD that is curling higher. So, what are you doing for dinner?

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