Despite a volatile stock market, “Mad Money” host Jim Cramer on Tuesday noted many restaurant stocks are “absolutely on fire.”
Within the past week, Papa John’s International's stock hit an all-time high. Meanwhile, shares of Jack in the Box, Chili’s operator Brinker International and Cracker Barrel Old Country Store all reached multi-year highs. To Ed Ponsi, a highly regarded technician on Wall Street, all of these stocks are a 'buy' on a pullback.
There are, however, other restaurant stocks that aren’t within striking distance of new highs and could soon see big gains. In Ponsi’s opinion, McDonald’s, Dunkin’ Brands and Domino’s Pizzaall fit the bill.
To learn more about why Ponsi think these three stocks are poised to rally, Cramer went “Off the Charts.” Cramer looked at Ponsi’s technical analysis on each stock. Watch the video to see his full report.
When this story was published, Cramer’s charitable trust owned McDonald’s.
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