Breaks Multi-Year Resistance — 150% Upside Projection in Play
The Cheesecake Factory Inc. (NASDAQ: CAKE) has successfully broken out above a multi-year horizontal resistance near $60.00–$62.00, clearing a major supply zone that had capped price action since 2017. This marks the completion of a large-scale accumulation and basing structure that has been forming over several years.
The breakout is accompanied by increasing volume, a rising RSI approaching overbought levels (which is expected in early-stage breakouts), and a bullish MACD crossover. This combination suggests sustainable momentum and broad market participation.
The projected measured move target from this base formation points toward $141.80, representing a potential +151% upside from the breakout zone.
📈 Entry Trigger: Confirmed breakout and weekly close above $62.00
🎯 Target: $141.80
🔻 Stop-Loss (suggested): Below $56.00 (prior consolidation lows)
📊 Risk/Reward Estimate: ~1:7
🧱 Structure: Multi-year horizontal breakout, high-volume confirmation, strong momentum alignment (RSI + MACD)
The breakout is accompanied by increasing volume, a rising RSI approaching overbought levels (which is expected in early-stage breakouts), and a bullish MACD crossover. This combination suggests sustainable momentum and broad market participation.
The projected measured move target from this base formation points toward $141.80, representing a potential +151% upside from the breakout zone.
📈 Entry Trigger: Confirmed breakout and weekly close above $62.00
🎯 Target: $141.80
🔻 Stop-Loss (suggested): Below $56.00 (prior consolidation lows)
📊 Risk/Reward Estimate: ~1:7
🧱 Structure: Multi-year horizontal breakout, high-volume confirmation, strong momentum alignment (RSI + MACD)
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.