12.23.16 Elliott Wave Updates For Food Stocks: $CMG $SBUX $PNRA $BWLD

PNRA – PNRA appears to be near the end of a big zigzag after a large ramp up, but may need to test a full C wave target of 205-207 before it can reverse in a 618 reversal

SBUX – SBUX is near the end of a zigzag but may need to test 55-56 first before a 618 reversal

BWLD – [ms-protect-content id=”61,117,1559″] BWLD formed a full ABC zigzag and reversed..a break above 165 would setup a large upward 3

CMG – CMG needs to break 400 to prevent a retest of 350-360 in a full C wave [/ms-protect-content]