Darden Restaurants (DRI) has been in a nice price consolidation from $48.00 to $58.00 for 2012.
GAP REVIEW
On December 4, 2012, DRI gapped down under the 2012 price consolidation on their earnings release. DRI may have started a new downtrend off the daily charts and will be hunting for new demand/support.
KEY LEVEL
If DRI remains under its gap down price of $48.50 it should start drifting lower into its new search for price demand/support.
THE TRADE
Short any bounce up to $48.50 or wait for a price break of $46.50.
Price Target: $42.00 key level of demand off daily.
