Stock Chart Analysis RICK

Posted by downtowntrader | 3/13/2008 09:50:00 PM | 1 comments »

Stock Chart Analysis RICK

Rick's Cabaret Int'l, Inc (Public, NASDAQ:RICK)

I guess strip clubs do well during recessions, because RICK's chart isn't showing much weakness. This looks like a very straight forward setup with a bullish looking consolidation range coinciding with a possible market rally. I like how RICK quickly bounced off the $19 area twice in the past month, forming a possible double bottom off the lower bollinger bands. I would prefer that price close above the 20 day sma before taking a position, but if things look ok tomorrow after 10 am, and it's above the 20 sma, then I may take the trade anyways.

Good Trading,


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