Brinker International (EAT) staged a strong rebound after testing the 50% Fibonacci retracement level of the move from 56 to 192.21. In Friday’s session, the stock broke through the key resistance zone between 165.34 - 168.90. Sustaining levels above 168.90 would confirm the breakout and reinforce bullish momentum, opening the door for further upside toward 177, 183, and the previous peak at 192.21.
A breakout above 192.21, which marks a major resistance level, would signal a continuation of the broader uptrend, paving the way for potential targets at 204.90, 211.29, 221, and possibly 235.
The stop loss is below the last higher bottom at $ 162.30.
Technical indicators, particularly the MACD, are trending positively and support the bullish outlook, adding further confidence to the upward scenario.
Disclaimer: This analysis is for informational purposes only and does not constitute financial, investment, or commercial advice or recommendations.
A breakout above 192.21, which marks a major resistance level, would signal a continuation of the broader uptrend, paving the way for potential targets at 204.90, 211.29, 221, and possibly 235.
The stop loss is below the last higher bottom at $ 162.30.
Technical indicators, particularly the MACD, are trending positively and support the bullish outlook, adding further confidence to the upward scenario.
Disclaimer: This analysis is for informational purposes only and does not constitute financial, investment, or commercial advice or recommendations.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.