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Consumer Quick Service Food Name Nearing Breakout

by | Jul 23, 2023

Yum Brands (YUM) shares are forming a bullish flag pattern as lower beta consumer names start to see money flow lift them higher in sector rotations and even though YUM is more on the discretionary side it is shaping up a nice pattern ahead of earnings due on 8/2. The stock had a stock day Friday in a weak market and closed on highs just above its monthly value area high of 137.35 so a follow through higher can see 140 as a first target with potential upside to the former highs at 143 that would fill a gap from early May.

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