We have a multi-year breakout for Jack in the Box, as you can see on the monthly timeframe below. Bulls are looking for more volume to come in to cement the breakout. Of course, price is what pays and matters most. So, I am looking for $28 to now become support.
Despite Monday’s sell-off, many casual dining/fast food stocks are still set well, overall. I would continue to watch JACK for another push higher before earnings later this month, tentatively scheduled for the 21st.
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