$DRI Darden Restaurants new upside targets 22%-38%

By RT618 | Probabilities Technician | 15 Sep 2020


$DRI Darden Restaurants is now at a $90 resistance again as seen back on June 1st.

A successful daily close above this may open up new above targets. 

Below a weekly chart shows the current resistance at $90.

marked with a yellow dashed line.

b575c363798ed12d9a673508a38f0cd4485bbe9281ccf0be506f53e8a51bd7b3.png

Above a first target is marked with a BLUE arrow

at a high node of the volume profile.

This first target there around $110 is a 22% gain from today's $90 level.

 

Second target is back in the pre covid range at $125

That is a 38% gain from today's $90 level.

 

A dip lower could test weekly ichimoku cloud top at about $77

I would expect it to be a quick test of that support.


Company info link will be below.


Amazing gains have already occurred from the covid market low of $26.15

But lets not forget that many locations are operating at only 25% capacity.

When capacity opens up to even 50% I do believe the first above target is reasonable.


I bet you recognize some of these names...

Olive Garden, LongHorn Steakhouse, Cheddar's Scratch Kitchen, Yard House, The Capital Grille, Seasons 52, Bahama Breeze and Eddie V's

 Company link https://www.darden.com/



Trading is very risky,
use your own judgment
and have a have a great day friends...


 

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RT618
RT618

Trader using simplified easy to view trading strategies to find actionable trades.


Probabilities Technician
Probabilities Technician

Using simplified easy to view trading strategies to find actionable trades. Trading is very risky, use your own judgment and have a great day friends...

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