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Red Robin (RRGB) has formed a great looking IBD quality short chart. We have the failure to make new highs, the weakness that showed up today, and the 8.4% between us and the next line of support that are all at play here.
The only thing I would change about this chart is I would have liked to see a little more volume so show an increase in the selling, but you can’t always get what you want.
This coupled with the weakness that showed up in the market today make for a great short. Good luck!
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