Take a bite out of this $EAT chart! – September 19, 2024
This is Scott McGregor at Scott Trades on Twitter with StockMarketMentor.com and your Chart of the Day. I want to take a bite out of Brinker International ( NYSE: EAT ).
Now, EAT ( NYSE: EAT ) is the owner of a handful of restaurants, they own a bunch of restaurants including Chili’s, which has gone viral lately because of its mozza sticks. But I’ve always known Chili’s as the place to get baby back ribs.
Let’s take a look at the chart here, we can see EAT ( NYSE: EAT ) is hitting new highs on the daily chart and doing it on okay volume. It’s not a super high volume breakout, but I think EAT ( NYSE: EAT ) is definitely good to go here for a potential buy or a pullback buy, as long as it can hold up above this blue line, that’s the 21-day exponential period moving average.
Now, as good as the daily chart looks, I’m going to tell you, the weekly chart looks even better. Let’s go long-term here on EAT ( NYSE: EAT ). We can see that this stock is right near its high from 2021. So it’s just under its absolute all-time high level.
So I would definitely keep an eye on this stock. And if it does break above, hold above, and do it on good volume, then I have a feeling you’ll be getting more than just ribs and mozza sticks at Chili’s the next time you go. So this stock looks good for a potential weekly breakout.
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