US STOCKS-Restaurant stocks have bullish technicals -MKM

Reuters, By Ryan Vlastelica | September 30th, 2014 (Read article)

(Reuters) – Shares of restaurant companies were mostly lower on Tuesday, though MKM Partners wrote that a number of names in the space appeared poised to outperform on a technical basis.

Jack in the Box Inc hit its second all-time high in as many days on Tuesday, up 1.2 percent to $68.50 and “breaking out of a six month base,” wrote Jonathan Krinsky, MKM’s chief market technician in Greenwich, Connecticut. The stock “now looks to have room up to the mid $70s.”

2018-06-20T03:53:00+00:00