Beyond the peanut shell-covered floors of Texas Roadhouse restaurants, plenty of under the radar casual dining plays are heating up and acting well. BBRG FRGI RRGB are just a few to consider going forward.
In reaction to strong earnings, TXRH is clearing all-time, well-defined resistance going back to 2005, which could easily be signaling a fresh uptrend is upon us here, as you can see on the monthly chart below.
There may or may not be a “wealth effect” derived from higher stock prices. But it would take a very, very, long and deep depression to keep Americans out of their favorite casual dining restaurants.
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The biggest “wealth effect” for the less than rich people, is from the underground economy. Lots of folks have jobs where they are getting paid under the table. So, according to the official record, they are ” unemployed. “
That’s one reason why more people can afford to eat out than one might think, looking at the official economy.
interesting