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Old-Fashioned Restaurant Stock Has Some Giddyup

Cracker Barrel could break from bull channel and run up


Cracker Barrel Old Country Store (NASDAQ:CBRL) — The company operates 604 Cracker Barrel stores in 42 states, and its business plan consists of a rustic, old country store format providing a restaurant menu with homestyle country food. The stores also offer decorative and functional items, holiday gifts, toys, apparel, cookware, and foods. CBRL has increased earnings from $3.64 to an estimated $4.50 over the last five quarters, showing a strong acceleration in quarterly earnings rates.

Following a massive breakout from a cup-and-handle formation, the stock established a bull channel, and although it is at the top of the channel, it could break from it and quickly run to $70. The technical target is $72.

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