CHUY owns and operates restaurants under the Chuy's name in Texas and 13 states in the southeastern and midwestern United States. The company's restaurants provide Mexican and Tex Mex inspired food. As of March 2, 2015, it owned and operated 61 full-service restaurants in 14 states. The company was founded in 1982 and is headquartered in Austin, Texas.--Finviz
CHUY has been basing for roughly 6 months after a nasty earnings related gap down back on November 5th, 2014. I'm always intrigued by bases, the longer the better. The base just tells you that the sellers who were in control are drying up and or finding equilibrium with the buyers. Near at the end of the base before the eventual breakout what you start to see is the buyers get more aggressive and the stock starts to have higher lows. This is exactly what is happening with CHUY currently, the earnings gap down high is $23.36, a move above that level can start a short squeeze. According to FINVIZ 18% of CHUY's float is short with a short interest ratio of 10.
Friday, April 10, 2015
Playing A Possible Base Break
"Frank began his career on Wall Street nearly two decades ago. He worked alongside some of the most respected traders on the street. He quickly realized his true talents were in his ability to interpret market technicals as well as behavior. He was a full-service broker until 2011 when he decided that his no-nonsense approach and expertise was better suited as an independent rather than under the reins of the brokerage business. Since his transition, Frank founded Zor Capital LLC and had successfully managed the portfolios of high net worth individuals. Outside of the cliche cookie cutter approach. His achievements and advice have been featured by CNBC, FOX Business, Yahoo Finance, Benzinga, Wall Street Journal, and CNN Money. Frank is widely regarded as an influential trader in the industry."