Tuesday, September 18, 2018 12:08:13 PM
Earlier today, Cracker Barrel Old Country Store Inc (NASDAQ:CBRL), reported earnings that were short of analysts expectations. The company also issued downside guidance. The popular restaurant stock is trading lower by 5.63 percent to $142.27 a share. Traders should note that the stock price is now trading below its important 50 and 200-day moving averages. This puts the stock in a weak technical position on the charts. The stock is also falling below its recent weekly chart pivot low from late July which indicates weakness and further downside for the shares. Traders must now watch for support around the $130.00 area. This important support area is where the stock was defended in October 2016. Often, past pivot levels will serve as major support when retested.
Nicholas Santiago
InTheMoneyStocks
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