Bloomin' Chart to Match a Bloomin' Onion

Bloomin' Brands Inc., owner of the Outback Steakhouse chain (along with Carrabba's Italian Grill, Bonefish Grill, and Fleming's Prime Steakhouse & Wine Bar), is one of a handful of restaurants which have quietly enjoyed a bit of a resurgence this spring.

We have noted this theme in prior blog posts and for Members. But it is certainly worth updating when we see the progress a name like BLMN has made, breaking out from a base on its weekly chart, below.

Red Robin (RRGB) is another name making steady technical improvements this year in the restaurant space, also worth tracking.

This group is especially intriguing given that so many traders will ignore the space, typically, in favor of tech.  And while we all will be glued to AAPL, which is running into earnings tomorrow, with renewed consumer confidence the restaurants should keep seeing inflows, and possible some M&A activity as well.