Emerging from the Darkness

While I thought CHUY would emerge as a catch-up play to the stronger casual dining stocks, namely the likes of BLMN CBRL DENN FRGI RRGB TXRH, among others, as it turns out BBRG has been performing better on a relative basis.

Much like CHUY, Bravo Brio was a beaten-down laggard among restaurants. 

However, unlikes CHUY we have seen BBRG hold over its base bottom breakout level, seen on the daily chart, below.

As it stands now, the stock is flagging reasonably well above it base breakout for a potential secondary leg higher. As long as the stock can now hold over $14 and especially $14.30 I would consider it as a long setup going forward.

Regarding CHUY, it still needs to break and hold over $23. 

And as far as the sector as a whole, the best charts I still see are BLMN FRGI RRGB TXRH.