Technical Analysis of Financial Markets

Monday, June 09, 2008

CKE Restaurants Inc. (CKR)

CKE Restaurants franchises quick-service restaurants in the United States operating primarily under the Carl's Jr. and Hardee's names. During the past 12-month period, stock price has declined 160% with price action bounded by the 50-day MA. A recent breakout from the declining trendline should see price action targeting Fibonacci extension levels. Stop-loss: close below 50-day MA. Fast food shares mostly rise after McDonald's reports strong same-store sales for May:

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