Denny's Corp. (DENN) has been trending higher since September extending an uptrend that started in early 2016. Are there any more gains on the plate? Let's check the charts and indicators.
In this daily bar chart of DENN, below, we can see a saucer-like or rounded-bottom formation from May through September. Prices broke out to the upside in October and pulled back in November for a successful retest of the rising 200-day moving average line. Prices also currently above the rising 50-day average line.
The daily On-Balance-Volume (OBV) line based in May through early September and then turned higher telling us that buyers of DENN turned more aggressive. The Moving Average Convergence Divergence (MACD) oscillator has been above the zero line for much of the time since September and could soon turn upwards to a fresh outright go long signal.
In this weekly bar chart of DENN, below, we can see that the advance is two years old and prices are above the rising 40-week moving average line. The weekly OBV line turned up this past September as did the weekly MACD oscillator.
In this Point and Figure chart of DENN there is no higher upside price target but a trade at $15.77 will be a fresh upside breakout.
Bottom line: Aggressive traders could long DENN above $15.75 risking below $14.50.