We have been focusing on the restaurant sector lately, as there are signs this group of companies is recovering nicely. Yes, there are stocks that are dreadful and untouchable, like Chipotle, but then there are others that continue to drive higher, like Popeye’s Louisiana Kitchen. Stuck in a wide eight point range since the Spring, this stock has bolted higher and followed through on some impressive turnover.
Relative strength shows the power of this stock. After the election meltdown, Popeye’s showed unrelenting bullish price action. The MACD is on a strong buy signal, and because the stock is rallying in the face of volatile markets, that tells us buyers continue to pick it up. The recent move to $60 was on good turnover, and there is a great chance this will move up toward the mid 60’s on the next run.
Popeye’s Louisiana Kitchen (Nasdaq: PLKI) Video Chart Analysis
Take a deeper dive into the chart action on tech stock Nasdaq: PLKI and learn how to read the technicals. Get Bob Lang’s full analysis as he marks up our chart of the week.
Love what you’re learning in our market analysis? Don’t miss a single video! Get the latest chart action delivered directly to your inbox every week as Bob breaks down stocks to watch and potential trade options!
About Popeye’s Louisiana Kitchen
Popeyes Louisiana Kitchen, Inc. develops, operates, and franchises quick-service restaurants under the trade names of Popeyes Louisiana Kitchen and Popeyes Chicken & Biscuits. The company operates in two segments, Franchise Operations and Company-Operated Restaurants. As of October 11, 2016, it operated and franchised 2,594 restaurants in the United Sates, the District of Columbia, Guam, Puerto Rico, the Cayman Islands, and 26 international countries. The company was formerly known as AFC Enterprises, Inc. and changed its name to Popeyes Louisiana Kitchen, Inc. in January 2014. Popeyes Louisiana Kitchen, Inc. was founded in 1972 and is headquartered in Atlanta, Georgia.
