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Since gaining 263% in six months, Panera Bread has formed a 16-week base. It stands 7% off its Nov. 14 high.
On Jan. 8, the stock stretched all the way down to its 200-day moving average, finding support at the line. It then traveled higher, struggling at its 50-day moving average. Last week, it shot above the line and is now moving well above both averages.
Its Relative Price Strength line is at a new high, a bullish sign. For the pasteight
weeks, Panera's Relative Price Strength Rating has been 98.
The St. Louis-based firm operates more than 225 specialty bakery-cafe stores under the Panera Bread and St. Louis Bread names. About 60% of the stores are franchises.
Last quarter, profits rose 140% to 12 cents a ...