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Bullish Moving Average Cross by Cheesecake Facto (CAKE)

By Shiri Gupta

Today, shares of Cheesecake Facto (NASDAQ:CAKE) have crossed bullishly above their 10-day moving average of $16.84 on a volume of 1.1 million 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.

Cheesecake Facto share prices have moved between a 52-week high of $51.15 and a 52-week low of $14.52 and are now trading 17% above that low price at $17.05 per share. In the last five trading sessions, the 50-day moving average (MA) has fallen 7.1% while the 200-day MA has slid 1.9%.

SmarTrend recommended that its subscribers protect gains by selling shares of Cheesecake Facto on February 26th, 2020 by issuing a Downtrend alert when the shares were trading at $37.75. Since that call, shares of Cheesecake Facto have fallen 55.5%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: moving crosses cheesecake facto

Ticker(s): CAKE