If you’re looking for a tasty chart, look no further than the fast food brand Wingstop. Just look at that chart! Notice the incredible surge in August and the recent pause, which is what we like to see after a big move upward. The consolidation is positive as the stock bases at a higher level. Over the past month the range has been tight, and on Monday, the stock broke out on some impressive volume. It was up all day while the market was reeling.
The MACD is on a buy signal now. The move up towards 72 has this name poised for a move even higher – to the 80 area. Not many stocks are making new highs lately, but this name is on the list.
Take a deeper dive into the chart action of Wingstop on Nasdaq: WING and learn how to read the technicals. Get Bob Lang’s full analysis as he marks up our chart of the week.
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About Wingstop
Wingstop Inc., together with its subsidiaries, franchises and operates restaurants under the Wingstop brand name. Its restaurants offer cooked-to-order, hand-sauced, and tossed chicken wings. As of February 22, 2018, the company operated approximately 1,000 restaurants the United States, Mexico, Singapore, the Philippines, Indonesia, the United Arab Emirates, Malaysia, Saudi Arabia, and Colombia. Wingstop Inc. was founded in 1994 and is headquartered in Dallas, Texas.
