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Cheesecake Factory Bullish Moving Average Crossover Alert (CAKE)

By Shiri Gupta

Today, shares of Cheesecake Factory (NASDAQ:CAKE) have crossed bullishly above their 10-day moving average of $52.42 on a volume of 152K shares. This may provide swing traders with an opportunity for a long position, as such a crossover often suggests higher prices in the near term.

Over the past year, Cheesecake Factory has traded in a range of $44.16 to $58.86 and is now at $52.97, 20% above that low. Over the last five market days, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.4%.

SmarTrend recommended that subscribers consider buying shares of Cheesecake Factory on July 11th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $50.16. Since that recommendation, shares of Cheesecake Factory have risen 4.3%. We continue to monitor CAKE for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: moving crosses cheesecake factory

Ticker(s): CAKE