Long Position on FRGI @ $56.50 on 12/24/2014 (Momentum)

Fiesta Restaurant Group, Inc. (FRGI) operates, and franchises fast-casual restaurants.

It operates its fast-casual restaurants under the Pollo Tropical and Taco Cabana brand names.

The company’s Pollo Tropical restaurants offer various Caribbean food, and Taco Cabana restaurants offer a selection of Mexican food.

As of September  28, 2014, it owned and operated 119 Pollo Tropical and 166 Taco Cabana restaurants; and franchised 36 Pollo Tropical restaurants in the United States, Puerto Rico, the Bahamas, Ecuador, Guatemala, Honduras, Panama, Trinidad & Tobago, Venezuela, and the Dominican Republic; and 7 Taco Cabana restaurants in the United States. 

Shares are in the process of forming a bullish "cup & handle."  Shares are in the handle formation which means prices should be moving higher sooner than later! 

52-Week Trading Range: $35.34 - $64.18

Entry Point: $56.50

Stop Loss: $53.65

Target Price: $62.15

Updates

1/26/2015 1:44:54 PM

Closing FRGI at $60.00 after its 30 days expired.

Position closed on 1/26/2015 at price of $60.00 with a 6.19% gain in 33 days.

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