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The Chart of the Day belongs to Flanigan's Enterprises (BDL) a repeat from September. I found the stock by sorting the All Time High list for the stock with the best technical buy signals then used the Flipchart feature to review the charts. Since the Trend Spotter signaled another buy on 10/30 the stock gained 83.45%.
Flanigan's Enterprises, Inc. owns and/or operates restaurants with lounges, package liquor stores and an entertainment oriented clubs (collectively the ``units``). All of the Company's package liquor stores, restaurants and clubs are operated on leased properties. They operate under the names ``Flanigan's Seafood Bar and Grill'' restaurants and ``Big Daddy's'' retail liquor stores.
Barchart's Opinion trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 10 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com web site when you read this report.
Barchart technical indicators:
First let me say that I seem to be the only one who has ever written about the stock. I, like many others who grew up in South Florida in the 60's and 70's remember Joe Flanigan and his Big Daddy's lounges. Occasionally, when I'm in Lauderdale I still stop in at the Commercial Blvd. location for ribs or burgers and happy hour. I see no reason for the run up in the stock price. The fundamental numbers are very ordinary but the price has soared. Go figure???
The 50-100 Day MACD Oscillator has been a good technical trading strategy on this stock and should continue to be used to signal entry and exit points.
All I can say is I still remember their radio spots in my youth: " You're never far from a Big Daddy's lounge".
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