Don't Ignore This Chart!

Cardtronics (CATM) Fills Earnings Gap

 | 

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: co-founded Invested Central in 2004 and served as the site's Chief Market Strategist for more than 10 years. Invested Central provides stock market education and guidance for those interested in making their own financial decisions. During his tenure at Invested Central, Tom co-hosted Market Open LIVE, a national radio broadcast that covered many of the largest markets across the U.S. In addition, he has spoken at various conferences throughout the United States and Canada and has taught thousands of traders across the globe how to trade equities more wisely with an emphasis on managing risk and intermarket relationships. Learn More
Subscribe to Don't Ignore This Chart! to be notified whenever a new post is added to this blog!
comments powered by Disqus