Nick Santiago / InTheMoneyStocks.com
This morning, Darden Restaurants Inc (DRI) is declining lower by $5.27 to $47.13 a share. Darden Restaurants Inc. owns and operates the popular Red Lobster and Olive Garden restaurants. This decline in DRI is certainly weighing on most other leading restaurant stocks on the trading session. Short term traders can watch for intra-day support on DRI stock around $46.90, and $45.00 levels. The daily chart will have support around the $40.00 level.
Some leading restaurant stocks that are trading lower in sympathy to Darden Restaurant Inc includes The Cheesecake Factory Incorporated (CAKE), Yum Brands Inc. (YUM), Chipotle Mexican Grill Inc. (CMG), and Panera Bread Co. (PNRA) to name a few stocks. Traders should expect weakness throughout the rest of the session today.
Trading Range: Day trading support level $46.90, and $45.00.
The daily chart swing trade level: $40.00.