Morning Thread

PNRA from 1/18/2012 Morning Thread

PNRA has broken above the upper band for the 1st time since early December and volume has been increasing which is a sign of accumulation. It could just keep going but that is not what I expect. I do look for another day or two of upside movement and the impatient may wish to take a small position in case it does not pull back. I think the better entry would be after a small move back to test the breakout (about 145) and then buy the bounce.

That turned out to be a good read and better plan.  Just wish I had actually bought some.

Gator's Chart of the Day: PNRA

Today I'm revisiting Panera Bread Company.  They reported earnings yesterday after market and also announced the departure of CFO Jeff Kip. He has been chosen to fill the CFO slot at IACI.  I wouldn't read too much into that as IACI has been looking for a successor to fill the slot since their current CFO announced last summer that he would be leaving this March.

After hours PNRA sold off a little and last traded at 155.50.  I think this may be a good entry but I will watch the open and see if it will come down a bit more and then bounce.  I doubt it will come back to the 145 area where it bounced from the 20 day sma but it may kiss it again around 150-152 in the next few days.  If it acts like it did the last time I might actually make some money on it.