Taking Cover in Restaurants

Published on
May 15th, 2019
Duration
10 minutes

Taking Cover in Restaurants

Trade Ideas ·
Featuring Steve Strazza

Published on: May 15th, 2019 • Duration: 10 minutes

Steve Strazza, co-founder of The Chart Report, examines one industry group that’s showing relative strength during the current market volatility: food and beverages. In this interview with Jake Merl, Strazza drills down on some key stocks in the space, discusses the technical setup for Wingstop in particular, and reviews the key levels traders should pay attention to. Filmed on May 14, 2019.

Comments

Transcript

  • GR
    George R.
    20 May 2019 @ 10:36
    I didn't want to post this, but given how many viewers of RV may not be familiar with technicals, it is imperative RV check guest credentials. Why is a CPA discussing technicals? Only CMTs, CFTes or those accredited with the IFTA (International Federation of Technical Analysts) should be commenting on technical developments. PBJ weekly is NOT a bullish engulfing - it is a potential last engulfing pattern. Those who have studied for the exams and read Steve Nison's work on candlesticks will know this. Bullish engulfing patterns can only occur after a series of down bars in a down trend. This analysis as it stands is misleading.
    • MD
      Matt D.
      20 May 2019 @ 13:50
      I would agree with the poor technical analysis - I think his stop gets hit. WING has a weekly demark 13 exhaustion and weekly bearish RSI divergence. Better trade ideas out there.
  • JO
    Johnny O.
    16 May 2019 @ 18:49
    Great sector relative strength methodology