KONA (Kona Grill Inc) reported a loss of .08c/share today which fell shy of expectations, yet the stock is trading up sharply & challenging the top of this large bullish falling wedge. On watch for a long entry but I'd like to see how the stock trades before considering an official long entry, especially considering how far the stock has stretched today (16%) just to get to the top of the wedge. Unofficial trade idea for now but on watch for an objective or higher probability entry.

KONA daily July 28th

KONA daily July 28th

On a related note, I went through all the charts in the restaurant sector the other day & have found quite a few attractive setups, both long & short, such as KONA & the recently posted DAVE unofficial trade idea (as DAVE should be reporting earnings within the next few weeks).