Trade of the Week BOBE Update

Trade of the Week: Bob Evans Farms (BOBE). After digesting a nice move off lows with a multi-week bull flag, it looks like BOBE might be ready to blast off through this major resistance level at 47.50. This multi-week bull flag along with the bottoming breakout off of lows has formed a solid cup & handle that we believe to be actionable to enter through $47.50 with $1 stop at $46.49. A realistic target here looks to be $50+. 
Entry $47.50
Stop Modified from $46.49 up to $46.99
Target $50+

Leave a comment