Cheesecake Factory (CAKE) NewsBite - CAKE Downgraded By Piper Jaffray
Posted: Friday, February 13, 2009 10:48 AM EDT
By: Market Intelligence Center Staff
Cheesecake Factory (CAKE) was downgraded today by analysts at Piper Jaffray and the stock is now at $8.70, down $0.99 (-10.22%) on volume of 1,313,508 shares traded. The brokerage downgraded the stock to "Sell" from "Neutral." Over the last 52 weeks the stock has ranged from a low of $4.96 to a high of $23.25. Cheesecake Factory stock has been showing support around $8.89 and resistance in the $10.21 range. Technical indicators for the stock are neutral and S&P gives CAKE a neutral 3 STARS (out of 5) hold ranking. If you are looking for a hedged play on CAKE the stock seems like it could be a candidate for a March out-of-the-money bear-call credit spread above the 10 range. [ABR-Seven Summits Strategic Investments NewsBite]
CLICK HERE: FREE Cheesecake Factory (CAKE) Stock ReportSee what our analysts have uncovered about Cheesecake Factory (CAKE).