Technicians bet on Buffalo Wild Wings

Two leading advisors -- both known for an expertise in technical analysts -- are bullish on the prospects for Buffalo Wild Wings (Nasdaq:BWLD), which operates and franchises casual food restaurants in 38 states.

Here's an overview of the stock from Joseph Hargett, an analyst with Schaeffer Investment Research, and Richard Schmidt, editor of The Stellar Stock Alert.

Richard Schmidt explains, "You’ve got to love the action of Buffalo Wild Wings. Last month, the stock jumped up nearly 25% in one day and continued to move up.

"The jump up left a big gap on the chart, a bullish sign of strength. And it moved the stock up over the 200-day moving average. BWLD is up over 100% from its November low.

"Most restaurant stocks aren’t doing very well. So it’s significant that BWLD is bucking the trend. It shows real strength and growing customer demand.

"The big jump came on stellar fourth-quarter earnings. The company posted better-than-expected results, with earnings growing 28% to $0.43 a share.

"In addition, total revenue was up 32.6%, same- restaurant sales also jumped. Company-owned stores saw their sales up 4.5%. And franchised stores were up 2.5%.

"Better yet, the company believes its growth prospects for the rest of the year are achievable. So we expect BWLD to continue this uptrend. BWLD is a buy."

Joseph Hargett says, "BWLD has plenty of momentum on its side. The stock has bested the SPX by more than 61% on a relative-strength basis during the past 60 trading days.

"On the charts, BWLD has enjoyed the support of its 10-day and 20-day . . .

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