Check and see how much BOBE earned it will surprise you. Sure revenue was up because menu prices went up at both Bobe Evans to the tune of 3.2% and at Mimi's which went up 2.8%. Now they report to you same stores sales increased 1.1%, who is trying to fool who?. The bottom line (the earnings) is what stockholders are interested in.
Yeah but even though the prices went up the demand didnt decrease the same amount canceling it out. So I see it as good. Plus look how bobe has done over the past week in its support range. Not bad at all given how much the market went down, So looks like its showing good support. Maybe a bottom in my opinion. I dont think your going to make much shorting. Were at a major support level and its holding. Going from 25 to 27. Dow Jones Ave just reached a major support level too from August. I think things will bounce or stay flat for a while. Bad news in everything has been priced in already. Except those financial stocks see them going down more. The markets already priced in for this Supposed Recession. Things are expect to pick up last half of the year. The money moving from other based stocks is going to move somewhere afterwards. Its going to move into other discounted stocks that are reaching good buy in points like this one and many others. Here are the support levels with BOBE.
CURRENT PRICE 25.23, at support, 25.29 � 0.38, type double, strength 10
RESISTANCE ABOVE +6.7% at 26.93 � 0.4, type single, strength 5 +12.2% at 28.3 � 0.42, type single, strength 1 +18% at 29.78 � 0.45, type single, strength 8 +22.1% at 30.81 � 0.46, type double, strength 3 +25.4% at 31.63 � 0.47, type triple+, strength 10 +27.3% at 32.13 � 0.48, type single, strength 1 +31.2% at 33.09 � 0.5, type triple, strength 7 +36.3% at 34.39 � 0.52, type single, strength 1 +44.1% at 36.35 � 0.55, type double, strength 7 +48% at 37.35 � 0.56, type single, strength 1 +51.1% at 38.12 � 0.57, type double, strength 6
If you risk shorting it you could loose fast if things go up (even watch out for a technical bounce in the market) but if you do risk it cover at 23.27, for a 7.8% return. I'm betting long. Yeah I wish everyone to make money thats the whole point but I think going short is too risky at this point you should have done that when it was trading at 40 or 30 not now. Every time I go to Bob Evans its always busy. The food is just good and not that expensive.