Shake Shack Inc. (SHAK) was downgraded by Credit Suisse a day after it posted a sales update. I have only eaten at Shake Shack once so I may not be a good fundamental judge of the company, so let's just stick to the charts and indicators.
In the daily bar chart of SHAK, below, we can see that prices have been in a downward trend since September telling us that at least part of the decline had nothing to do with the coronavirus. Prices are below the declining 50-day simple moving average line and the declining 200-day moving average line. Back in December we can see a bearish death cross of the 50-day and 200-day averages.
The daily On-Balance-Volume (OBV) line has followed prices up and down the past 12 months but it is dangerously close to making a new low for the move down which would tell us that sellers of SHAK remain more aggressive.
The Moving Average Convergence Divergence (MACD) has been below the zero line for much of the time since October and is still not bullish.