CEC Entertainment Inc., (CEC) which operates the Chuck E. Cheese pizza and entertainment center chain, said last week that first-quarter profit rose 3 percent, helped by higher sales at company-owned stores. With almost 13.00 % of its' float short and a point and figure target of $69.00 on the recent breakout CEC certainly offers good potential reward.
Given the recent large price spike a pullback would probably offer a better entry level.
What is a "point and figure target"? Is it a chartist's assessment of upside momentum and where it points to? Is there a time frame within which such a target is likely to occur? Ay what point does the "point and figure target" breakdown?