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Co. Looking Good for Renewed Vigorous Advance
Contributed Opinion

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After big gains in the previous two months, technical analyst Clive Maund takes a look at Muscle Maker Inc.'s 6-month chart to tell you whether he believes it is a Buy.

Although Muscle Maker Inc. (GRIL:NASDAQ) is up some from where we bought it in the middle of March, basically it hasn’t done much, as we can see on its latest 6-month chart below.

At the time we thought we were buying it at a good price on a significant reaction, but as sometimes happens it went on to react further so we could have picked it up at a better price later, but that said it has now recovered its poise and is up from where we bought and the reason for this update is that it looks like it will soon break higher into another strong upleg.

Basically, what happened with Muscle Maker over the past two months is that, after big gains, it had gotten tired and needed to take a rest, which it did in the Symmetrical Triangle shown on our chart.

However, with this Triangle now closing up and its earlier overbought condition unwound as shown by the MACD indicator, it is now good and rested and believed to be ready to advance anew.

Fundamentally there are plenty of reasons for Muscle Maker’s stock to continue to advance. For a start it is buying back its stock but most importantly the company is swinging from making losses to moving strongly into the black with very strong revenue and profit projections for this year and especially for 2024.

It reported revenue of US$93.8 million for the month of March this year and check out this new research report from Goldman Small Cap Research (nothing to do with Goldman Sachs). Goldman has a 6 to 9-month target for the stock at US$4.50, which our charts certainly indicate is well within the realms of possibility.

We therefore stay long and Muscle Maker is rated a strong Buy here for a break higher into another potentially vigorous upleg.

Muscle Maker's website.

Muscle Maker Inc. closed at US$1.36 on 5th May 5, 2023.

Originally published on on May 8, 2023, at 9:20 am EDT

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Important Disclosures:

1) Clive Maund: I, or members of my immediate household or family, own securities of the following companies mentioned in this article: None. I personally am, or members of my immediate household or family are, paid by the following companies mentioned in this article: None.

2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with: Muscle Maker Inc. Please click here for more information.

3) Statements and opinions expressed are the opinions of the author and not of Streetwise Reports or its officers. The author is wholly responsible for the validity of the statements. The author was not paid by Streetwise Reports for this article. Streetwise Reports was not paid by the author to publish or syndicate this article. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.

4) This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.

5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Muscle Maker Inc., a company mentioned in this article. Disclosures

The above represents the opinion and analysis of Mr. Maund, based on data available to him, at the time of writing. Mr. Maund's opinions are his own, and are not a recommendation or an offer to buy or sell securities. Mr. Maund is an independent analyst who receives no compensation of any kind from any groups, individuals or corporations mentioned in his reports. As trading and investing in any financial markets may involve serious risk of loss, Mr. Maund recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction and do your own due diligence and research when making any kind of a transaction with financial ramifications. Although a qualified and experienced stock market analyst, Clive Maund is not a Registered Securities Advisor. Therefore Mr. Maund's opinions on the market and stocks can only be construed as a solicitation to buy and sell securities when they are subject to the prior approval and endorsement of a Registered Securities Advisor operating in accordance with the appropriate regulations in your area of jurisdiction.

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