The Restaurant Business

There are, indeed, quite a few stocks and sectors quietly hinting at staging a resurgence in 2017. 

Restaurant stocks would have to be included in that group, beyond the impressive action in fast food winners like JACK and WEN this year. 

When it comes to casual dining, CAKE is back in action and is still sporting a multi-year uptrend yet to be breached. 

But beyond the winners heretofore, we want to see if the duds cam stage major bearish-to-bullish reversal. Everything from SHAK to FRGI, to the likes of RRGB and KONA are all in focus for next year. 

KONA, for example, is surging back above its 200-day moving average today after having been mired in a steep downtrend for a good while. This is a good first step towards a potential major double bottom and one to surely be watched closely into the new year.