NEW BULLISH Plays
Cash America - CSH - close: 41.18 change: +0.91 stop: 38.99
Cash America International, Inc. provides specialty financial services to individuals in the United States and Mexico with over 1,000 locations. We are the largest provider of secured non-recourse loans, commonly referred to as pawn loans, and operate under the brand names Cash America Pawn, SuperPawn and Prenda FÃ¡cil.
(source: company press release or website)
Why We Like It:
We had CSH on the PremierInvestor play list for a while but shares never hit our trigger to open positions. This time the stock has broken out past resistance near $41.00 and closed at new 52-week highs. CSH makes short-term loans and with unemployment still high and likely to stay high the company should be doing a booming business. After four weeks of consolidating sideways in the $39-41 zone I suspect CSH is poised for a new leg higher. I'm suggesting bullish positions now with a stop at $38.99. Our first target is $44.90.
Suggested Position: CSH stock at $41.18(?)
Entry on April 06 at $41.18(?)
Earnings Date 04/22/10 (unconfirmed)
Average Daily Volume: 263 thousand
Listed on April 5th, 2010