Long Position on FRGI @ $24.30 on 4/22/2013 (Momentum)

Fiesta Restaurant Group (FRGI) owns, operates, and franchises fast-casual restaurants in the United States.

It operates its fast-casual restaurants under the Pollo Tropical and Taco Cabana brand names. The company’s Pollo Tropical restaurants offer a selection of tropical and Caribbean food; and Taco Cabana restaurants provides a selection of Tex-Mex and traditional Mexican food. As of December 30, 2012, it owned and operated 91 Pollo Tropical restaurants, and 160 Taco Cabana restaurants; and franchised 35 Pollo Tropical restaurants and 8 Taco Cabana restaurants in the United States, Puerto Rico, Ecuador, Honduras, Trinidad, the Bahamas, Venezuela, Costa Rica, and Panama.

Shares have formed a bullish "cup & handle" and higher prices are expected for this stock.

52-Week Trading Range:  $10.95 - $27.19

Entry Point:  $24.30

Stop Loss:  $23.10

Target Price:  $26.75

Updates

4/30/2013 1:05:48 PM

FRGI was closed at $26.85. We still believe this stock is going higher. If you elect to stay in, raise your stop loss to $26.80 to protect your gains!

Position closed on 4/30/2013 at price of $26.85 with a 10.49% gain in 8 days.

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