Cardtronics (CATM) reported stellar quarterly results on February 4th after the close, beating Wall Street estimates with respect to both revenues ($283.9 million actual vs. $270.6 million estimate) and EPS ($.64 actual vs. $.57 estimate). At the open on February 5th, CATM gapped higher to 40.00 from its prior day 35.77 close. It took nearly a month, but CATM just filled its gap earlier this week, touching 35.75 on Tuesday. Failure to hold that gap support could result in a further decline to price support at 33.44. Otherwise, a reversal here and push back higher to test that gap open from February 5th could be in the "cards".
Happy trading!
Tom Bowley
About the author:
Tom Bowley is the Chief Market Strategist of EarningsBeats.com, a company providing a research and educational platform for both investment professionals and individual investors. Tom writes a comprehensive Daily Market Report (DMR), providing guidance to EB.com members every day that the stock market is open. Tom has contributed technical expertise here at StockCharts.com since 2006 and has a fundamental background in public accounting as well, blending a unique skill set to approach the U.S. stock market.
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