Red Robin has been in this descending wedge for the past 3 years, finally broke out at the beginning of June. It's been testing the top of the wedge as support for most of the month of June and now is starting to make its move higher. A measured move of the descending wedge puts a price target at $16 per share, a 300% move higher from current levels.
Note
Up 15% in 2 days!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.