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Papa John's International, Inc.PP

Papa John's International, Inc.

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PZZA trade ideas

PZZA short opportunityPZZA (Papa Johns) is looking like a solid short set up. Logic: Breakdown of support on Feb 22nd on serious volume. bounce off 73.63 support in a descending wedge pattern followed by a recovery up. Trouble the past two days breaking the closing price of the Fed 22nd move, as evidenced by the long wick yesterday. H&S pattern forming. cloud resistance at current price. Wait for a good downside move, then consider buying May 77.50 puts. This stock may print a few more dojis or even test the 81.21 resistance before continuing down, so be patient!
NShort
by mologna
Papa Johns Pizza -- Post Earnings -- Massive Diamond BreakoutPapa John's International Inc PZZA:NSDQ Target Price Range: $73.00 - $76.00 Implication Bottom Triangles and Bottom Wedges are considered to be bullish signals that mark a possible reversal of the current downtrend. Description Bottom Triangles and Bottom Wedges make up a group of patterns which have the same general shape as Symmetrical Triangles, Wedges, Ascending Triangles and Descending Triangles. The difference is that these particular formations are reversal and not continuation patterns. These patterns have two converging trendlines. The pattern will display two highs touching the upper trendline and two lows touching the lower trendline. Contrary to Triangle formations, Wedges are characterized by their boundary trendlines both moving in the same direction. This pattern is confirmed when the price breaks upward out of the Bottom Triangle or Bottom Wedge formation to close above the upper trendline.
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by QuantitativeExhaustion