Noodles & Company (NDLS) has exploded higher over the last two days and traders and investors buy ahead of the earnings report in a few weeks. The company will also open their first location in Arizona today in Tempe. Analyst estimates have dropped down to $0.05 on $109 million in sales which should be easy to beat. If Noodles & Co does beat earnings, expect the stock to return to the $22-$25 area. If the company would raise guidance, expect $25-$28.
NDLS stock has been a good buy in the $17's on every dip. I don't see much more downside from here except maybe a drop into the $15's. Shares will now have resistance at $19.30.
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