Update: Denny's (DENN) - Nice Intraday Recovery

Those of you who had wits about them early morning and bought the stock at the support (as I said yesterday, $3.50) were richly rewarded with nearly 15% profit for the day. Congrats (if any out there who did it...).

Denny's (DENN), Anyone?

(UPDATE) Denny's bombed on the earnings, missed the estimate by 5 cents/share. $3.50 seems to be the support since November.

Since the economy is improving so fast, supposedly, people may have moved to more upscale restaurants (like McDonalds). Or the weather was bad. Or margin squeeze due to high input cost (=food).

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The chart looks good. Oh I forgot TA doesn't matter any more. LOL.

It looks to me like a very large cup formed over 10 months, with the first target somewhere above $5.80. I think it may run above $6.50 (I'm looking at 10-year chart), given time. Technical indicators are not too great, but that hasn't stopped other stocks from going up higher. So far.

I have no position, and I just found out they are reporting after hours today (2/15/2011). Do your DD.