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BJ's Restaurants, Inc. Message Board

  • mikemcmanus2000 mikemcmanus2000 Jun 7, 2012 5:48 PM Flag

    BJRI Weekly

    No comments here on fundamentals which generally I like very much (but I have not reviewed fundamentals recently).

    For those casual passerby folks -- I have a couple of technical comments:

    1--BJRI on weekly so far holding the 100 sma at approx $40.50.

    2--Daily chart weak and Weekly chart especially weak. Monthly still indicates a decline over time still intact.

    3--Based on Aug 20011 price action in Aug 2011, expecting a test of $39.

    4--If mkt goes to h_ll in a hand basket (so to speak) then $34-35 is likely a great buy if it gets there.

    5--Possibility of a test of $33 and worst case probably $28.

    6--Regardless,thinking $39-41 needs to hold and there may be a good buy in there, but $33-35 then in sights if that fails.

    7--Overall, I don't like the technical here. It is more emblematic of the market I think, but there is Sector rotation here that is working against BJRI.

    At any rate, thinking you keep powder dry here, see how $39-41 holds and if market tanks look to $33-35 area or $28 to add to core position (if test there successful). Good luck as always, M2

 
BJRI
35.74-1.16(-3.14%)Aug 22 4:00 PMEDT

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