TXRH still stuck within tight trading range

Texas Roadhouse Inc. (TXRH) Technical Analysis Report for May 22, 2020 | by Techniquant Editorial Team


TXRH still stuck within tight trading range
TXRH closes within previous day's range after lackluster session


TXRH ended the week 10.71% higher at 50.35 after edging lower $0.10 (-0.2%) 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 (TXRH as at May 22, 2020):

Daily technical analysis candlestick chart for Texas Roadhouse Inc. (TXRH) as at May 22, 2020

Friday's trading range has been $1.26 (2.49%), that's far below the last trading month's daily average range of $2.71. 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 TXRH. Prices continued to consolidate within a tight trading range between 47.00 and 51.00 where it has been caught now for the whole last trading week.

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

Selling could accelerate should prices move below the close-by swing low at 48.70 where further sell stops might get triggered. Further buying could move prices higher should the market test April's nearby high at 53.19.

Market Conditions for TXRH as at May 22, 2020

Loading Market Conditions for TXRH (Texas Roadhouse Inc.)...
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