Jack In The Box - JACK - Daily - Bullish Consolidation & trend
Powerful, long term rally in place here in JACK ( the owner of Qdoba Mexican Restaurant chain - competitor to Chipotle Mexican Grill CMG).
The price pattern is similar to a William O'Neill "Cup & Handle" but it hasn't broken out yet above 62 or 63.
The last pullback held the "Key Hidden Level" in the low $58 area and has turned back up above the last 8 days worth of highs. If JACK moves through 62 and 63, it will bring a lot of attention to the stock and likely put it on the front cover of IBD (Investors Business Daily).
Risk 59, target 64-65.
Tim 12:54AM EST 9/2/2014
The price pattern is similar to a William O'Neill "Cup & Handle" but it hasn't broken out yet above 62 or 63.
The last pullback held the "Key Hidden Level" in the low $58 area and has turned back up above the last 8 days worth of highs. If JACK moves through 62 and 63, it will bring a lot of attention to the stock and likely put it on the front cover of IBD (Investors Business Daily).
Risk 59, target 64-65.
Tim 12:54AM EST 9/2/2014
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