When the Price of Cheesecake Factory CAKE Talks, People Listen

January 17, 2023, 10:15 am ET, BY Christie- Contributor| Editor: Thomas H. Kee Jr. (Follow on LinkedIn)

Longer Term Trading Plans for CAKE

• Buy CAKE slightly over 35.03 target n/a stop loss @ 34.93. Details

The technical summary data tells us to buy CAKE near 35.03, but there is no current upside target from the summary table. In this case we should wait until either an update to the summary table has been made (which usually happens at the beginning of every trading day), or until the position has been stopped. The data does tell us to set a stop loss 34.93 to protect against excessive loss in case the stock begins to move against the trade. 35.03 is the first level of support below 37.4204, and by rule, any test of support is a buy signal. In this case, if support 35.03 is being tested, a buy signal would exist.

• NONE . Details

NONE .
There are no current resistance levels from the summary table, and therefore there are no Short resistance Plans which tell us to short upon tests of resistance. Resistance levels have broken higher and unless the stock reverses lower and below support levels again short positions look risky.

Swing Trading Plans for CAKE

• Buy CAKE slightly over 39.31, target n/a, Stop Loss @ 39.2 Details

If 39.31 begins to break higher, the technical summary data tells us to buy CAKE just slightly over 39.31, with an upside target of n/a. The data also tells us to set a stop loss @ 39.2 in case the stock turns against the trade. 39.31 is the first level of resistance above 37.4204, and by rule, any break above resistance is a buy signal. In this case, 39.31, 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 CAKE slightly near 39.31, target 36.65, Stop Loss @ 39.42. Details

The technical summary data is suggesting a short of CAKE if it tests 39.31 with a downside target of 36.65. We should have a stop loss in place at 39.42 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, 39.31, 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 CAKE

• Buy CAKE slightly over 38.64, target 39.31, Stop Loss @ 38.55 Details

If 38.64 begins to break higher, the technical summary data tells us to buy CAKE just slightly over 38.64, with an upside target of 39.31. The data also tells us to set a stop loss @ 38.55 in case the stock turns against the trade. 38.64 is the first level of resistance above 37.4204, and by rule, any break above resistance is a buy signal. In this case, 38.64, 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 CAKE slightly near 38.64, target 36.65, Stop Loss @ 38.73. Details

The technical summary data is suggesting a short of CAKE if it tests 38.64 with a downside target of 36.65. We should have a stop loss in place at 38.73 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, 38.64, 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.

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CAKE Ratings for January 17:

Term →	Near	Mid	Long
Rating	Strong	Strong	Weak
P1	0	0	25.46
P2	38.64	36.65	30.25
P3	40.49	39.31	35.03

Support and Resistance Plot Chart for CAKE

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This is not EF Hutton, but it could be more #powerful.  A picture speaks a thousand words, they say, and the #priceaction of Cheesecake Factory (NASDAQ: CAKE) tells an important story.  The movement tells us where investors perceive value, or the lack of it, and if we pay attention we can capture opportunity.  The data below for CAKE can be used as an example, and demonstrate how to do this for other stocks too.  This data was current at the time of publication, but it is not updated in real time here. If you want real time updates, or data on a different stock, please get one here Unlimited Real Time Reports.