How the price action of Cracker Barrel Old (CBRL) is used to our Advantage

August 06, 2022, 03:30 am ET, BY Christie- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Our job as #investors is to pay attention to the #stocks we own.  Part of that involves looking at the #fundamentals, but half of the disclosure comes from looking at price action. The  Cracker Barrel Old (NASDAQ: CBRL) data table below can help you with price action, and we have more details too. Trading plans for CBRL are shown here too; these plans are updated in real time for subscribers, where this report is static. If you want an update, or a report on a different stock, please get one here Unlimited Real Time Reports.

Longer Term Trading Plans for CBRL

• Buy CBRL slightly over 86.18 target 97.74 stop loss @ 85.93 Details

The technical summary data tells us to buy CBRL near 86.18 with an upside target of 97.74. This data also tells us to set a stop loss @ 85.93 to protect against excessive loss in case the stock begins to move against the trade. 86.18 is the first level of support below 96.58 , and by rule, any test of support is a buy signal. In this case, support 86.18 would be being tested, so a buy signal would exist.

• Short CBRL under 97.74, target 86.18, stop loss @ 98.02 Details

The technical summary data is suggesting a short of CBRL as it gets near 97.74 with a downside target of 86.18. We should have a stop loss in place at 98.02though. 97.74 is the first level of resistance above 96.58, and by rule, any test of resistance is a short signal. In this case, if resistance 97.74 is being tested, so a short signal would exist.

Swing Trading Plans for CBRL

• Buy CBRL slightly over 86.18, target 94.65, Stop Loss @ 85.93 Details

If 86.18 begins to break higher, the technical summary data tells us to buy CBRL just slightly over 86.18, with an upside target of 94.65. The data also tells us to set a stop loss @ 85.93 in case the stock turns against the trade. 86.18 is the first level of resistance above , and by rule, any break above resistance is a buy signal. In this case, 86.18, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short CBRL near 86.18, target n/a, Stop Loss @ 86.43. Details

The technical summary data is suggesting a short of CBRL if it tests 86.18 with a downside target of n/a. We should have a stop loss in place at 86.43 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 86.18, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

Day Trading Plans for CBRL

• Buy CBRL slightly over 97.21, target 97.74, Stop Loss @ 96.98 Details

If 97.21 begins to break higher, the technical summary data tells us to buy CBRL just slightly over 97.21, with an upside target of 97.74. The data also tells us to set a stop loss @ 96.98 in case the stock turns against the trade. 97.21 is the first level of resistance above 96.58, and by rule, any break above resistance is a buy signal. In this case, 97.21, initial resistance, would be breaking higher, so a buy signal would exist. Because this plan is based on a break of resistance, it is referred to as a Long Resistance Plan.

• Short CBRL near 97.21, target 94.65, Stop Loss @ 97.44. Details

The technical summary data is suggesting a short of CBRL if it tests 97.21 with a downside target of 94.65. We should have a stop loss in place at 97.44 though in case the stock begins to move against the trade. By rule, any test of resistance is a short signal. In this case, if resistance, 97.21, is being tested a short signal would exist. Because this plan is a short plan based on a test of resistance it is referred to as a Short Resistance Plan.

CBRL Ratings for August 06:

Term →	Near	Mid	Long
Rating	Strong	Strong	Weak
P1	0	0	86.18
P2	97.21	94.65	97.74
P3	99.84	98.53	109.99

Support and Resistance Plot Chart for CBRL

Real Time Updates for Repeat Institutional Readers:

Factset: Request User/Pass

Bloomberg, Reuters, Refinitiv, Zacks, or IB users: Access Here.