Ruth's Hospitality Group Jumps to Fresh HOD
November 07, 2011 3:43 PM
Shares of Ruth's Hospitality Group (NASDAQ: RUTH) are trading higher on the session by 3.76%, at $5.167. The stock has been trading in positive territory all session, but just recently garnered high volume and momentum to the upside. RUTH just touched a fresh high of the day, $5.18.
Ruth's Hospitality Group is now trading above its recent range (previous top at $5.00). The next resistance level is around $5.41; beyond there though, shares are clear to rip up to the $6.00 level and beyond.
Note that RUTH has 11.94% of the float sold short, which will add some fuel to the bull party.
Traders have two options in playing the upside: buy shares here with a stop loss set at $4.99, or buy an in-the-money call strike, such as the Nov2011 or Dec2011 $2.50 strike.
Ruth's Hospitality Group, Inc. is a restaurant company focused on the upscale dining segment. The company owns the Ruth's Chris Steak House, Mitchell's Fish Market, Columbus Fish Market, Mitchell's Steakhouse and Cameron's Steakhouse concepts.
