23Jul1:30 pmEST

Strong Demand for Eye-talian Food at Olive Garden

Darden Restaurants, Inc. is perhaps best known as being the rightful owner of Olive Garden, the epitome of the Americanization of Italian food with dishes such as, "Meatball Pizza Bowl" and "Italian Nachos," just like they eat in Rome. 

But DRI also owns six casual dining restaurant chains: Olive Garden, LongHorn Steakhouse, Bahama Breeze, Seasons 52, Yard House and Cheddar's Scratch Kitchen, and two fine dining restaurant chains: Eddie V's Prime Seafood and The Capital Grille. 

Given the strength in restaurants this spring and summer, DRI has, nonetheless, surprisingly been under the radar as a big-time winner. 

On the DRI daily chart, below, we have a stock operating right at all-time highs with very little in the way of selling interesting despite a sharp gap higher and subsequent grind up since last month's earnings reports. $113 now figures to be the next breakout trigger for a stock in a clear, multi-year uptrend and a diversified portfolio of restaurants. 

With CMG and plenty of other dining-related plays set to report this week and in the coming weeks, Darden makes for a quality chart and play to keep in mind with its own earnings out of the way. There are a few comparable plays in the dining space we will run through now for Members in my Midday Video. 

High Noon Standoff Approachi... Stock Market Recap 07/23/18 ...


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