Comments re CAKE from Dorsey Wright
Cheesecake Factory/CAKE ($34.10):
The main trend of CAKE is positive and the stock has three out of five technical attributes positive. The chart patterns show several classic patterns like:
- A shakeout in September,
- A triple top in November to complete that shakeout, and most recently
- A double top at 33 to complete a bullish catapult formation.
In addition to completing this bullish catapult, the weekly momentum has flipped positive. Okay to buy CAKE here with a stop/hedge point at 29, a double bottom.
Please visit a Cheesecake Factory near you (better, eat there), and note its attractiveness, its ambience, its food -- every item is yummy! -- and the long lines to get a table. This wait is true no matter which Cheesecake Factory you visit. I have had to wait at
- The two in Las Vegas,
- The one inside Macy's at Union Square in San Francisco,
- The original location in Beverly Hills,
- Newport Beach, Ca, and
- Copley Place in Boston.
So here's the thing: what are the reasons you invest? Could these attributes (not solely the wait, but the other items noted above) be an indicator of sorts...?