Don't Ignore This Chart!

Cardtronics (CATM) Fills Earnings Gap

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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

Tom Bowley
About the author: is the Chief Market Strategist at EarningsBeats.com, where he provides stock market education, guidance, and trading strategies using a unique combination of technical, fundamental, and historical analysis. Tom provides EarningsBeats.com members with four portfolios (Model, Aggressive, Income, and Value), all designed to beat the benchmark S&P 500, and a revolving Watch List of hundreds of companies reporting strong quarterly earnings (must beat both revenue and EPS estimates) and exhibiting technical strength as well. These companies comprise EarningsBeats' annotated Strong Earnings ChartList (SECL), from which Tom trades exclusively. Tom writes a Daily Market Report (DMR) for members to include an executive summary, market outlook, sector/industry watch, and trading ideas. Learn More
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