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SmarTrend Watching for Potential Pullback in Shares of Brinker International After 1.27% Gain

By David Diaz

Brinker International (NYSE:EAT) traded in a range yesterday that spanned from a low of $43.92 to a high of $44.65. Yesterday, the shares gained 1.3%, which took the trading range above the 3-day high of $44.24 on volume of 497,000 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 Brinker International on December 20th, 2016 by issuing a Downtrend alert when the shares were trading at $51.19. Since that call, shares of Brinker International have fallen 13.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

In the past 52 weeks, Brinker International share prices have been bracketed by a low of $40.92 and a high of $60.34 and are now at $44.64, 9% above that low price. Over the past week, the 200-day moving average (MA) has gone down 0.4% while the 50-day MA has declined 0.5%.

Keywords: rebounders Brinker International

Ticker(s): EAT