The Papa is hiring! ($PZZA) (April 13, 2020)

by DAN PZZA 
This is Scott with you Free Chart of the Day. I want to take a look at Papa John’s Pizza ( NASDAQ: PZZA ). Papa John’s ( NASDAQ: PZZA ) like many stocks have had quite a recovery off of the lows, just over 100 percent since the huge plunge here.

Recently it has been basing along the 50-day moving average, which is a major moving average. Today it bounced off the 50-day, held above and is kind of building, again, a little bit of a base pattern here; a little bit of sideways consolidation above the 50-day moving average. Now, that is what we would like; as swing traders we like solid bases of support. And ideally, we would like to see Papa John’s Pizza ( NASDAQ: PZZA ) hold above that 50-day moving average and if possible break above $63.00.

The reason I am bullish on this stock; this company came out today to say that they are looking to hire more people because they are having trouble keeping up with the demand for contact-free delivery. Now, I don’t know about you but in this quarantine I am eating a lot of groceries because we are not going out. But I am kind of get tired of the same thing all of the time, so at our house, we get delivery quite frequently now.

So keep an eye on Papa John’s Pizza ( NASDAQ: PZZA ); I think you could have an alert on this at around $63.00. Take a look at it and then, of course, you would want a stop just below the 50-day moving average because that is the level we would want to hold as support. So keep this one on your watch list.

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