Restaurant Stock Ripe For Upgrades, Bullish Price Action

Core Insights - Brinker International (EAT) shares have increased by 1% to $166.25, remaining below the record peak of $192.22 reached on February 4 [1] - The stock has shown a year-to-date gain of 25.8%, but has struggled to maintain levels above $180 [1] - A historically bullish trendline suggests potential for recovery in share price [1] Technical Analysis - EAT is currently within one standard deviation of its 80-day moving average, having traded above this trendline in 8 of the last 10 trading days and spent 80% of the past two months above it [2] - Historical data indicates that similar conditions have led to an 80% probability of the stock being higher one month later, with an average gain of 11.6%, potentially bringing shares to around $185.53 [2] Market Sentiment - The short interest float for EAT stands at 13.7%, indicating potential for a short squeeze [4] - Among the 18 brokerages covering EAT, 14 have a "hold" recommendation, suggesting room for bullish upgrades if bearish sentiment shifts [4] Options Market - Options for EAT are currently considered affordable, with a Schaeffer's Volatility Index (SVI) of 58%, ranking in the low 28th percentile of its annual range [5] - The stock has historically outperformed options traders' volatility expectations, as indicated by a Schaeffer's Volatility Scorecard (SVS) of 76 out of 100 [5]