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Papa John's International Inc. Message Board

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  • GenJackripper GenJackripper Jul 8, 1998 2:17 PM Flag

    buy, buy, buy!!!!

    A look, today, at PZZA's big 3-month chart here
    on Yahoo, with moving averages superimposed, clearly
    shows that the stock has been trending downhill since
    it reached its intra-day high of 44.500 on
    6/09/98.

    As you can also clearly see, since the beginnig of
    this week it has been playing footsie with its 200 DMA
    (green line).

    Back on 6/24/98, when #272 was
    posted (and PZZA spent its day between 37.500 and
    39.250, closing @ 38.750), it informed lurkers to this
    thread that the spot price for block cheddar on the CME
    was then 1.5575.

    Today's IBD, page B9, is
    informing us that Monday's (7/06/98) and Tuesday's
    (7/07/98) spot price is now up to 1.6075 and here we've had
    PZZA getting down into the 36+ range on its intra-day
    low forays since the beginning of this
    week.

    Technically, PZZA is STILL IN A DOWNTREND. It has momentarily
    paused near its 200 DMA which, as many of you lurkers
    may know, is considered to be a technical support
    level, and it is hinting ever so slightly that it would
    like to find firm footing here.

    If it does,
    this brief episode may be all she wrote. But if it
    doesn't, and PZZA breaks down below its 200 DMA, the month
    old downtrending trading channel PZZA has defined for
    itself has a floor as of today, 7/08/98, @ 33.6012
    (calc'd value) or about 33 77/128.

    A call to my
    TA, the Oracle at Delphi, informs me that the next
    level of technical support below its 200 DMA is in the
    $33 to $34 range which happens to be consistent with
    what PZZA's trading channel is currently
    indicating.

    If PZZA should break down further, stock sachem
    scgeoff (#285) will find it even more ridiculous, market
    maven PB96 (#287) will sagely respond that this is even
    bigger BS, and sieranoitulover (#286) probably will
    (happily) add to his PZZA holdings at an even lower price.

 
PZZA
63.46-1.0400(-1.61%)Jan 30 4:00 PMEST

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