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PLAY > New Plays Thursday, May 24, 2001
New Split Plays   New Candidate Plays   New Momentum Plays
(We update our stop losses daily at the CURRENT PLAYS page.)

New Split Plays

None

New Candidate Plays

None

New Momentum Plays

BUCA - Buca, Inc. $25.15 +0.90 (+2.16)

The love affair with restaurant stocks started in about August of last year and has shown no signs of letting up. Investors have been snatching up the casual dinning issues faster than deserts at an all you can eat buffet. As of April 1, 2001, Buca ran 58 restaurants under the name of BUCA di BEPPO. These eateries specialize in Southern Italian fare combined with a relaxed atmosphere. They are known for their large portions and amicable wait staff. For the 13 weeks ended April 1, 2001, sales increased 47% over the same period a year ago. The increase in sales was due to higher average checks and to the impact of new restaurants. Turning to the chart, BUCA notched a new high today on good volume of 560,000 shares. The stock's three-month average is 320,000 shares. Speaking of volume, we also noticed that volume started to spike in mid April, a sure sign that mutual funds and institutions are on the prowl. Looking at our favorite indicators, BUCA's MACD is positive and OBV is getting back towards its high. Traders might want to consider opening a new position in BUCA if the stock can either bounce off support at $24 or close above today's closing price of $25.15 on volume of at least 350,000 shares. Our initial stop is set at support of $21.30.


Picked on April 24th @ $25.15
Change Since Picked 0.00
Stop Loss @ $21.30      
 
Interactive Chart Quote News First Call on BUCA
 

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