Hungry for Texas Roadhouse? (TXRH)

by | Apr 23, 2024

Big moves aren’t reserved only for new, hot technology stocks.

Sometimes boring, long-term, buy-and-hold stocks make moves too.

Texas Roadhouse (TXRH) is an example.

This stock is loved by “investors” who love its steadily rising share price over the years (and also love its excellent value investing metrics).

But TXRH can also move and it’s very close to a breakout now.

Here’s the chart:

A break above $157.12 could lead to a nice surge.

Plus TXRH is in one of the top 5 hottest sectors in the world right now.

And this could also be a good starting point for a long-term position.

We’ll keep an eye on it.

Happy trading,

— Scott Welsh

P.S. As a reminder, these plays are based on my longer-term Weinstein Stage Analysis method. The chart above uses weekly candles and a 30 week simple moving average. For details on this method, see my explanation on this Ask The Pros episode starting at timestamp 20:45.

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