$TACO Looks good for a nice clean setup!I believe Del Taco should finally break out of this trend line it's been stuck on!
TACO trade ideas
$TACO Del Taco TA Pre Earnings
Within our group we have traded this recently for a nice 15% gain.
Into earnings the chart is bullish but we have a little caution as the long term downtrend may get tested as support.
Potential for limit order at $11.90 with $12.90 Pt in teh short term.
New Channel born! Love the look of the upside of a channel. So hard to find a stock like this these days! Pure TA!
GL trading!
Del Taco shows a sell oppurtunity now!!!Chart shows a bearish divergence indicator! So the price may fall!
$TACO A Buy Near Multi-Year Lows$TACO looks to have sold off too hard to the downside and now trades near all-time lows. In the current environment, $TACO should do alright.
Historically, prior to the introduction of delivery, drive-thru and takeout represented more than 85% of Del Taco’s company-operated restaurant sales. On the recent fiscal fourth quarter 2019 earnings call the Company reported that delivery had grown to approximately 3% of company-operated restaurant sales following the late 2019 launch of its third delivery service provider. Last week, Del Taco entered into an agreement with its fourth delivery service provider, Uber Eats, which is expected to go live during the fiscal second quarter 2020.
Due to the COVID-19 pandemic, the Company has closed substantially all system-wide dining rooms and continues to operate through limited contact or contactless channels such as drive-thru, takeout and delivery.
The Company has increased its cash position by drawing down $50.0 million under its revolving credit facility. With the draw down and existing cash, the Company currently has over $56.0 million in cash on hand. Its current market cap is just $143 million.
Del Taco (NASDAQ: TACO) offers a unique variety of both Mexican and American favorites such as burritos and fries, prepared fresh in every restaurant's working kitchen with the value and convenience of a drive-thru. Del Taco's menu items taste better because they are made with quality ingredients like fresh grilled chicken and carne asada steak, hand-sliced avocado, hand-grated cheddar cheese, slow-cooked beans made from scratch, and creamy Queso Blanco. The brand's campaign further communicates Del Taco's commitment to providing guests with the best quality and value for their money through cooking, chopping, shredding and grilling menu items from scratch. Founded in 1964, today Del Taco serves more than three million guests each week at its approximately 600 restaurants across 15 states.
Good luck to all!
DEL TACO Bullish?Crab pattern on monthly chart of DEL TACO
Waiting for more price action to consider a long term long position
TACO LongTaco had gone through a correction wave followed by another correction wave due to the bad news on the earnings (-30%). Hopefully this tide will now turn around and start a Elliot impulsive wave for a long rally.
Full Disclosure #2I Sold my 1500 shares of TACO @ $8.11 = $115.00 gain.
I Failed to notice:
*Insanely High P/E
*Lousy EPS!
My friend taught me, that when you have a Profit - You Get OUT.
(Before the Criminals steal your Money)
I can, now, use the Money for something better.
Hint: DVN
I loaded the boat, today.
