Del Taco's Stock Tests Major Support After Q4 Report

Del Taco Restaurants Inc TACO shares are trading lower by $0.08 at $12.50 in Monday's session. The Street is undecided on what to make of its Q4 report that came inline for revenues but came up shy on revenues by $2.3 million.

At first, the Street seemed to be pleased with the report as it sprinted to $13.00 off a higher open before reversing course. That matches its February 28 high and is just shy of its February 24 ($13.16) and February 27 ($13.16) highs.

The ensuing decline has found support and resistance in a familiar area. Over the last nine sessions, the issue has bottomed between $12.11 and $12,38 and rallied. At this time, the low for the day comes in at the bottom of the range at $12.00.