Trading Idea - Buffalo Wild Wings Breaking Out?

Published on Friday, 03 February 2012 20:44 Written by Danny Miller

New York, February 3rd (TradersHuddle.com) - Shares of Buffalo Wild Wings, Inc. (NASDAQ:BWLD) closed the trading session at $70.30 just above calculated resistance at $67.22 moving to what appears to be a new range, as this move will clearly raise the attention of momentum buyers.

Buffalo Wild Wings, Inc. (NASDAQ:BWLD) owns, operates, and franchises casual dining restaurants in the United States. The restaurant chain offer a variety of boldly flavored, made-to-order menu items including Buffalo, New York-style chicken wings spun in any of its signature sauces, amid an inviting neighborhood atmosphere that includes an extensive multi-media system, a full bar and an open layout, which appeals to sports fans and families alike.

Buffalo Wild Wings' stock was trading in a well defined range with support at $62.19 and resistance at $67.22, given that this range was broken traders will be closely monitoring the stock