Thursday, January 19, 2017

Is Panera [PNRA] Forming Cup & Handle?

Panera   [PNRA]

     If they are, it's a smaller one. However, it's a bullish pattern nonetheless. For those of you unfamiliar with the term cup and handle there is an explanation on Investopedia I would recommend looking up. Here is the screenshot I took of the chart. I finally figured out how to draw on them. Lucky you.

     The green squiggly line is supposed to represent a cup, and then a handle. Whodda thunk. Another thing to note is the breach of the moving averages. The 50 day normal is just crossing over the 200 day normal in yet another bullish move. 

     Cup and handle is bullish. If there is a breakout above the point it closes at today, right around $215 with high volume, could keep on rising. In most cases it will go up about as much as the cup, so maybe $10-15 dollars? So is the 50 day crossing the 200 day. Good things ahead? Unless the people are right about a correction with Trump sooner rather than later. 

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