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Look for Shares of Cheesecake Facto to Potentially Pullback after Yesterday's 1.22% Rise

By Nick Russo

Cheesecake Facto (NASDAQ:CAKE) traded in a range yesterday that spanned from a low of $49.91 to a high of $50.77. Yesterday, the shares gained 1.2%, which took the trading range above the 3-day high of $50.35 on volume of 362,000 shares. Often times after large one-day gains, short term traders will seek to take profits and, as such, investors should be cautious.

SmarTrend recommended that its subscribers protect gains by selling shares of Cheesecake Facto on May 12th, 2017 by issuing a Downtrend alert when the shares were trading at $59.23. Since that call, shares of Cheesecake Facto have fallen 15.6%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

In the past 52 weeks, Cheesecake Facto share prices have been bracketed by a low of $46.93 and a high of $67.14 and are now at $50.55, 8% above that low price. Over the past week, the 200-day moving average (MA) has remained constant while the 50-day MA has advanced 0.4%.

Keywords: rebounders cheesecake facto

Ticker(s): CAKE