Saturday, July 05, 2014 2:07:23 PM
Nice buy! I think this is nice stock to showcase for 4th of July JER1 
Luby's has been around a while and is pretty "mainstay America" IMO.
I like that is has a smaller float (< 20mill), but I would rather its volume trade closer to 1% of it (~200k) for liquidity purposes. Nice recent surge on expansion news that caused it to pop out of a classic falling wedge pattern.
Short-term I think is more tailored for a wait and see approach for a new entry. Most current signals are warning to the sell side although I see support right here at this level. The best support confluence is ~5.50
To the up side, H-Res is not too strong w/ the 6.10 area currently the most significant.
The CFO buys in June are a nice added sentiment bonus.
Happy 4th Weekend
Luby's has been around a while and is pretty "mainstay America" IMO. I like that is has a smaller float (< 20mill), but I would rather its volume trade closer to 1% of it (~200k) for liquidity purposes. Nice recent surge on expansion news that caused it to pop out of a classic falling wedge pattern.
Short-term I think is more tailored for a wait and see approach for a new entry. Most current signals are warning to the sell side although I see support right here at this level. The best support confluence is ~5.50
To the up side, H-Res is not too strong w/ the 6.10 area currently the most significant.
The CFO buys in June are a nice added sentiment bonus.
Happy 4th Weekend
Join the InvestorsHub Community
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
