Shortcake ?

By Steve Abraham on May 26, 2008

Well, how about shorting cheesecake factory, symbol : CAKE. The stock has been weakeaned by the overall economic downturn. Less people going out to eat due to higher gas prices and those chosing to dine out not going upscale restaurants is presumably the theory. Technically, the stock looks like its going lower. It recently gapped down on relatively high volume. The ADX which measures the strength of a trend is very strong. MACD trending downward. Overall, I think shorting CAKE may be a decent trade in the coming weeks. Here is the six month charts:

This entry was posted on Monday, May 26th, 2008 at 4:51 pm and is filed under Annotated Analysis. You can skip to the end and leave a response. Pinging is currently not allowed.

9 Responses to “Shortcake ?”

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By dave on June 24th, 2008 at 3:30 pm

Has today’s upgrade broken the down trend? where do you see the bottom?

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