$CAKE flags new “Go” trend as discretionary sector continues to heat up.
After struggling for the best part of a year and a half, Cheesecake Factory is seeing enough bullish criteria being met for GoNoGo Trend to paint a first “GO” bar in a few months. In conjunction, GoNoGo Oscillator has risen to and broken above the zero line on heavy volume, suggesting that momentum is in the direction of the “GO” trend. We will look to see if this time the “GO” trend will stick.
