Hi guys! This is a Macro analysis into Shake Shack (SHAK). We will assess various developments occuring in the charts, shedding some light into whether we are in a bullish or bearish overall trend. The analysis is done on the 1 Week timeframe. When looking at the Price action of Shake Shack. We have recently been REJECTED from a Major Resistance Trendline (RED...
Decent Suuport level for a bounce!
$12s is holding really well yesterday
will save adds for 280s
The stock price is currently overbought & VIX was around 12 going into today's trading, suggesting increased volatility in the near-term. Bulls want to see this support hold to continue their momentum but we may see another pullback that takes the price back into the ascending triangle pattern.