Did you miss last night's "Mad Money" on CNBC? If so, here are Jim Cramer's top takeaways.
In the "Off The Charts" segment, Cramer checked in with colleague Bob Lang over the charts of several restaurant stocks that could be poised to gain in 2017.
Lang felt the daily chart of Popeyes Louisiana Kitchen (PLKI) was among the strongest in the fast-food group, with shares soaring after the election, only to consolidate afterward. The Chaikin Money Flow (CMF) is strong and the MACD momentum indicator just signaled a bullish crossover. If shares can breach their ceiling at $63, Lang felt $75 a share could be possible.
Like Popeyes, shares of Cheesecake Factory (CAKE - Get Report) have also been climbing since November, pulling back recently to their 50-day moving average. Lang noted that the CMF is still negative, signaling more room to run.
Lang was also bullish on Jack in the Box (JACK - Get Report) , which became overbought in December but has since pulled back. With a solid chart, Lang would be a buyer if shares break through their ceiling at $112.
Finally, Lang examined Panera Bread (PNRA) , noting the stock was at an inflection point, but with more upside likely. Shares have a tough ceiling at $215 a share, but with a MACD crossover, $240 could be the next stop.
Cramer said he agreed with Lang, given these companies' strong fundamentals, especially Popeyes.
Do you have an appetite for more about these stocks? Read the full Off the Charts report.
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