06Sep3:33 pmEST
Scantily Clad and Scantily Traded, But Worth a Look
Some obvious post-summer plays would seem to make sense here, such as chicken wings for football season. BWLD is a name we are watching closely, to see if recent progress this summer follows-through again to the upside.
Beyond that, though, as the weather cool down we may see an uptick in patrons at gentlemen's clubs.
With this in mind, RCI Hospitality Holdings, i.e. owner of Rick's Cabaret (among others), is at an interesting technical juncture.
On the daily chart, below, note the strength today as the name looks to clear well-defined horizontal resistance, denoted by the light blue line. Volume on average is thin. But clearly some interested buyers are coming in today.
Should RICK sustain a true breakout into autumn, it would likely add more credence to a broad-based rally in equities beyond the attention garnered by the FANG stocks today. And, of course, it is tough to think of a more textbook sign of a bull market than a name like RICK having fun own the market's stage.
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