The Daily Breakout
Thursday, December 15, 2022
Here are today’s top breakdowns:
$HOPE: Hope Bancorp broke below a pivot point that has been relevant for the last couple of years. It will be interesting to see how this one holds up around the lows from September 30th of this year.
$IAT: Regional banks shit the bed before slightly rebounding to finish the day down -1.4% (still outperformed the S&P on the day which closed down -2.5%).
$TSN: Tyson Foods broke down to new 52-week lows after bouncing around these levels for the last couple of months. Apparently Wall St. doesn’t have the distinguished palate needed to enjoy some dino nugs.
$RUTH: If Wall St. doesn’t have the appetite for Tyson’s dino nugs, you can only imagine what they did to Ruth's Chris today. The next level to watch for is a break below July lows.
