Dave & Buster’s (PLAY)

Apr 12, 2022Trade Ideas

Keep an eye on Dave & Buster’s (PLAY).

After gapping from about $47 to $40, the stock appears to have caught strong support.

We’re also starting to see a reversal in relative strength (RSI) and on Williams’ %R. In fact, if you pull up a two-year chart of PLAY with just W%R, you can see that this indicator has done a great job calling tops and bottoms on its own. From a current price of $40.73, we’d like to see the PLAY stock initially refill its bearish gap around $47 a share.

Analysts seem to like the stock, too.

Analysts at Truist for example have a buy rating on PLAY, with a $60 price target. “Truist noted that the company’s store-level margins during the fourth quarter were stronger than expected, despite the revenue miss, ‘suggesting that cost savings found during Covid are sustainable and highlighting PLAY’s relatively low exposure to operating cost inflation,’” says Barron’s.

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