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Americana nears highs

Americana nears highs

Americana Restaurants International’s shares are showing positive technical signals, trading above their 9- and 21-day exponential moving averages, with the Relative Strength Index above 50 and the stock approaching its yearly high of SAR 2.66. The shares are currently trading near SAR 2.61. A breakout above the high could open the way to targets of SAR 2.70, SAR 2.75, and SAR 2.90, while SAR 2.50 has been set as support and a stop-loss level. The stock rose from a low of SAR 1.53 in February to a high of SAR 2.66 in November, gaining more than two-thirds in value.

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