Leading restaurant stock Shake Shack (NYSE:SHAK) has been falling with the major stock market indexes lately. This is a stock that I have been looking to own at the right price or chart pattern, but it never seems to give me the setup that I have been looking for. At this time, I'm watching the $46 area. SHAK is currently trading around $53, so it still has to drop a bit more before reaching my level.
Earnings Watch
Shake Shack is scheduled to report earning on November 1 and if the stock falls to the $46 level, I'll most likely take a position and buy.