Technically, in daily data, even if moving averages are still in a downtrend, a positive reaction in the USD 45.6 area should stop this trend and allow a technical rebound towards USD 50 and USD 53.6. Moreover, technical indicators show a significant oversold condition which strengthens this bullish scenario.
So as to make the most of a potential technical rebound of BJ's Restaurants, it seems opportune to open a long position at the current price. A confirmation of this pattern would enable the security to reach the USD 53.6 resistance, with a potential gain of 17%. Investors should not insist under USD 43.81 and are better of placing a stop loss order under this threshold.
BJ's Restaurants, Inc. is a casual dining restaurant. The Companyâs restaurants feature a menu with approximately 100 menu items designed to offer various items, including slow roasted entrees, such as prime rib, EnLIGHTened Entrees, such as Cherry Chipotle Glazed Salmon, original signature deep-dish pizza, the Pizookie dessert and BJs craft beers. Its craft beer is produced at five in-house brewing facilities and by independent third-party brewers using its recipes. The Company is a national restaurant chain, which owns and operates approximately 200 casual dining restaurants located in 30 states, including Alabama, Arizona, Arkansas, California, Colorado, Connecticut, Florida, Illinois, Indiana, Kansas, Kentucky, Louisiana, Maryland, Massachusetts, Michigan, Nevada, New Jersey, New Mexico, New York, North Carolina, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, Tennessee, Texas, Virginia and Washington.
BJ'S RESTAURANTS, INC. 
