A few weeks back I detailed a possible long PZZA/short DPZ pair trade in the pizza space. The Dominos’ weekly chart below shows a rising channel break. Along with the broad market, it has bounced recently. I would look at it as a short back below $30 in a weakening tape. Papa Johns is the long idea, and looks to have consolidated its initial pop very well, benignly pulling sideways to meet its rising 20 day movie average. It may very well be ready to go higher, even in a range-bound market.
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Care to comment on a short PCLN long TRIP pair?
I like it. Good thesis technically, from my perch.
Thanks