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Sonic Corp. Message Board

  • TxTraderMan TxTraderMan Jun 25, 2008 6:29 PM Flag

    Technicals- Support and Resistance

    The chart from a technical basis looks ugly. Looks like 12 is the next major support level and price could easily see that level in the fall. Minor support around 14. Should bounce at 14, even a dead cat will bounce.
    Appears they got greedy and jacked the menu price up too high and cut off future growth. Growth stocks get killed when they quit growing because they usually have no dividend to hold them up. The gas/commodity crunch and a weak consumer will continue to crush stocks like sonic.

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SONC
34.37-0.89(-2.52%)Apr 29 4:00 PMEDT