Chuy's Holdings (CHUY) is showing some promise with a bounce off support and bullish MACD cross. Notice that broken resistance turned into support in the 34 area and held from June to September. With the move above 37 this week, MACD moved above its signal line and momentum is turning up.
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About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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