Cheesecake Factory (CAKE) NewsBite - CAKE Could Be On the Move
Posted: Tuesday, June 02, 2009 10:58 AM EDT
Cheesecake Factory (CAKE) could be on the move today and is now at $17.30, down $0.25 (-1.42%) on volume of 401,603 shares traded. Over the last 52 weeks the stock has ranged from a low of $4.96 to a high of $20.04. Cheesecake Factory stock has been showing support around $16.56 and resistance in the $18.54 range. Technical indicators for the stock are bearish and S&P gives CAKE a negative 1 STARS (out of 5) strong sell ranking. If you are looking for a hedged play on CAKE the stock seems like it could be a candidate for a July out-of-the-money bear-call credit spread above the 20 range. [ABR-Seven Summits Strategic Investments NewsBite]
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