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Wingstop Inc.

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WING trade ideas

WINGThe Option to BUY (CALL) or SELL (PUT) some WING. Here are my key technical observations with WING: 1. Price Action and Trend: Current Price: $331.30, sitting close to the 20-day EMA (estimated at $335.21). The stock appears to be in a downtrend over the past few months, with a recent bounce off support near the $300-$310 level. The 50-day EMA ($353.12) is well above the current price, indicating downward pressure in the short term. 2. Support and Resistance Levels: Support: The $310 level has acted as strong support, evident in recent price action where it bounced off that range. The next major support is around $290, based on past price consolidation zones. Resistance: Immediate resistance is around $335 (20-day EMA). A significant resistance zone lies near $350-$355, aligning with the 50-day EMA and previous highs. 3. Indicators: RSI (Relative Strength Index): Currently at 44.88, indicating that the stock is neither overbought nor oversold. However, it's on the lower end, hinting at possible accumulation. MACD: The histogram is slightly positive, and the MACD line is crossing above the signal line, suggesting a potential bullish reversal in momentum. VWAP (Volume Weighted Average Price): Current price is below VWAP, indicating that it’s still trading in a bearish zone. 4. Moving Averages: The 200-day EMA ($351.21) is still significantly above the current price. This suggests a long-term bullish trend might be reversing, or it's in a consolidation phase after a strong rally earlier this year. 5. Volume and Sentiment: Recent candles show declining volume during the recovery phase, which suggests weak buying pressure at the moment. Watch for an increase in volume to confirm any breakout above the resistance levels. Summary: Bullish Case: WING needs to break above the $335-$340 resistance zone to gain momentum toward $350+. Look for increased volume and continued MACD bullish crossover. Bearish Case: If the stock fails to hold $310, it could revisit the $290-$300 support zone. Neutral: The stock is consolidating, so short-term trades could rely on scalping between support and resistance zones.
NASDAQ:WING
by DerrickJerry
WING head and shoulders NASDAQ:WING WING has recently broken out of a previous upward channel following positive earnings and raised guidance. This pattern resembles a head and shoulders formation, and a neckline break could at least trigger a retest of the 200-day MA. Key Developments: Uptrend channel breached. Retested bottom of previous channel, failed to break through. Dropped below 100-day MA, subsequently retested and failed to hold above. Expected Outcomes: Bullish Scenario: WING breaks above the upper boundary of the current falling wedge, coinciding with the 100-day MA resistance. In this case, I would exit the position. Bearish Scenario: WING fails to surpass the upper wedge boundary and retests the lower boundary, aligning with previous support and the potential 200-day MA. A subsequent lower high would confirm the head and shoulders pattern, targeting a price of $270-285. Economic Considerations: While declining interest rates are anticipated due to recession fears, this could negatively impact consumer spending, including dining out. WING's franchise-heavy business model may be affected by franchisees delaying store openings in anticipation of lower interest rates and improved economic conditions.
NASDAQ:WINGShort
by Average_Joe_Options
WING recently broke resistance of prior ATH will it stop? Overall market: Last week the market was all over the place, originally falling due to META, but then bounced after MSFT and GOOG earning. It seems tensions in the middle east are going to continue and any bad news can have a significant impact on the market. In addition inflation seems to be stickier than previously anticipated and higher rates for longer will break something eventually. Consumer services/food stocks: After CMG earnings near all the food stocks took flight. WING especially seemed to have responded favorably. I am concerned that the industry got ahead of itself. CMG is a different beast than all the other food stocks. Prior to CAVA it had no true competition. They also reported a 50:1 stock split which generally brings high trade volumes and a differnet class of investor. Believe me I think CMG is out of control as well but they have a much larger moat than the others. WING: WING for example just sells fried chick products and fries. Althoguh they may have a wide variety of sauce options thier main food item can be purchesd at almost all other fast food restueraunts. KFC, BWW, chick fil a, MCD, Wendys, Popeyes, and Burger king all compete over chicken products (wings, nuggets, chicken sandwhiches, fries). Yes they rely a lot on their franchisees and they hve a fairly priced entry, but with a chanign interest rate environment with increased fears of future pull backs will their franchise sie of the business experience a pull back or slow down? It seems to me that this stock has gotten over priced and is priced to perfection. It has recently broken resistance of prior ATH and is 3 days away from earnings report. It is a risky bet, but I am interested in deep in the money puts on this stock. if earning beats I believe the stock has already experienced a large pirtion of its upside going into earnings. If they miss earnings/expectations they will likely experience another pull back to recently tested 50 day MA. Overall Market: - Last week, the market was volatile, initially falling due to META's performance but then bouncing back after positive earnings reports from MSFT and GOOG. - Tensions in the Middle East seem likely to persist, and any negative news could significantly impact the market. - Additionally, inflation appears more persistent than previously expected, and prolonged high-interest rates could eventually trigger a market correction. Consumer Services/Food Stocks: - Following CMG's earnings report, most food stocks surged. WING, in particular, appeared to react very favorably. - However, there's a concern that the industry may have gotten ahead of itself. CMG is a unique case compared to other food stocks. Prior to Cava Group's (CAVA) emergence, it faced minimal direct competition. Additionally, their 50:1 stock split typically attracts high trading volumes and a different class of investors. While CMG's valuation may seem excessive, their competitive moat is significantly wider than its peers. WING: - WING primarily focuses on fried chicken products and fries. - Although they offer various sauce options, their core menu item is readily available at most other fast-food restaurants. KFC, BWW, Chick-fil-A, McDonald's (MCD), Wendy's, Popeyes, and Burger King all compete heavily in the chicken category (wings, nuggets, sandwiches, and fries). - While WING relies heavily on its franchise model with a relatively affordable entry point, will rising interest rates and potential economic downturns lead to a slowdown in franchise expansion? Investment Thesis: - It appears WING's stock price might be inflated and priced for continued flawless execution. - It recently surpassed its previous all-time high (ATH) and is just three days away from its earnings report. This creates a risky investment opportunity. - Considering these factors, I am interested in deep in-the-money puts on this stock. - If earnings exceed expectations, the stock price has likely already captured most of its potential upside. Conversely, if earnings miss expectations, the stock will likely experience another pullback towards its recently tested 50-day moving average (MA). NASDAQ:WING NYSE:MCD NYSE:CMG NYSE:YUM NYSE:DPZ NYSE:CAVA
NASDAQ:WINGShort
by Average_Joe_Options
Here are the reasons why I am shorting $WINGI am shorting WING via Put Options expiring in July 2024. Here is why: - Overbought chart with RSI bearish divergence on the daily - Retail activity increased more than 100% compared to D-7, D-14 and D-28 === FOMO - Price closed green for the day, 7 days in a row - On the 21st of Feb, the company released very good earnings but the price dropped -4.36% despite the good news and good forward outlook == news failure ; later last week, the price rallied back up (so did the entire market) but it looks to me like an exhaustion rally illustrated by a potential exhaustion gap printed on Thursday (daily chart). - At the time of writing this idea, the company's PE ratio is 144.80 according to Yahoo Finance which is beyond extended... AND VERY INTERESTINGLY >> - On Friday, while the market rallied and retail investors were pouring in from all sides: INSIDERS SOLD SHARES including the CEO (about 11000 shares) and 2 Directors (about 2500 shares). Why would 3 different insiders sell during the biggest rally of the year, at the same time? Those are the reasons why I am short, and will continue to add to my short at any price increase.
NASDAQ:WINGShort
by marketchan
4
💵  E a r n i n g s J o u r n a l📶 S T A T I S T I C A L A N A L Y S I S           Current 50-Day Market Trend: long/buyers/positive. Next Swing: positive swing to resistance. Next Wave: buy wave to the deviation. Next 50-Day Market Trend: long/buyers/positive. Trade Type: Touch & Go don't wait for a close.          💵 E A R N I N G S A T A G L A N C E Market Capitalization: 5.376B Release Date: 11/01 BMO Quarter: FQ3'23 _______________________________________________ Revenue Anticipations: positive surprise of Revenues. Revenue Surprise-Confidence: on a scale of 0-9, #5 Revenue 2-Year Trend: the company trend in Revenues is positive. _______________________________________________ EPS Anticipations: positive surprise of EPS. EPS Surprise-Confidence: on a scale of 0-9, #8 EPS 2-Year Trend: the company trend in EPS is positive. _______________________________________________ 📝 S Y N O P S I S  🟢 Buy ~ If the earnings report is above the Wall Street consensus, I expect the market will buy the +surprise.  ⚪ Neutral ~ If the earnings report is released with complicating press, I expect the market will avoid the surprise and invest in alternative securities.  🔴 Sell ~ If the earnings report is below the Wall Street consensus, I expect the market will sell the -surprise. 🔎 R E S E A R C H D E P T H Technical Analysis: daily chart. Fundamental Analysis: EPS & Revenue data. Press/News: none. Social Media: none. ☝️ P R O V I S I O N The analysis presented is incomplete work thereby can't safely trade in the Market by itself.
NASDAQ:WING
by UnknownUnicorn28743597
Symmetrical TriangleMaybe prepare for landing? The Company and its stock price have performed well throughout the pandemic due in large part to early investments in digital and a model conveniently built around takeout and delivery versus dine-in. 2023 may prove to be a challenge. There are a lot of buyers in Wing which can mean a lot of sellers when the tables turn. Can be Volatile! EPS (FWD) 1.65 PE (FWD) 91.58 Div Rate (FWD) $0.76 Yield (FWD) 0.50% Short Interest 9.58% Market Cap $4.52B No recommendation. Possibly overvalued but beauty is often in the eyes of the beholder.
NASDAQ:WINGShort
by lauralea