EAT closes within previous day's range after lackluster session


Brinker International Inc. (EAT) Technical Analysis Report for May 22, 2020 | by Techniquant Editorial Team

Highlights

EAT closes within previous day's range after lackluster session

Overview

EAT ended the week 24.25% higher at 24.49 after edging lower $0.01 (-0.04%) today, slightly underperforming the S&P 500 (0.24%) ahead of tomorrow's Memorial Day market holiday. Closing within the prior day's range, prices missed to decisively move beyond the previous day's trading range in a lackluster session.

Daily Candlestick Chart (EAT as at May 22, 2020):

Daily technical analysis candlestick chart for Brinker International Inc. (EAT) as at May 22, 2020

Friday's trading range has been $1.14 (4.6%), that's far below the last trading month's daily average range of $2.20. Weekly volatility is also lower, being below the market's average weekly trading range. The longer-term, monthly volatility is currently slightly lower than usual for EAT.

One bearish candlestick pattern matches today's price action, the Bearish Spinning Top. The last time a Bearish Spinning Top showed up on Wednesday, EAT actually gained 5.74% on the following trading day.

Prices are trading close to the key technical support level at 23.23 (S1).

Although still in a long-term downtrend, the short and medium-term trends both turned bullish already.

Further buying could move prices higher should the market test April's close-by high at 26.18.


Market Conditions for EAT as at May 22, 2020

Loading Market Conditions for EAT (Brinker International Inc.)...
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