Why Not Pawn Your iPad
- Posted by Greg Harmon
- on April 24th, 2012
I am so excited! Apple is flying higher in after hours trading and we only have to wait 3 more months before they report again. The banter will be phenomenal! I bet we see a $1200 price target before Friday now. Congratulations to all of you who made money on the stock. But maybe, just a small thought, while you are waiting for the next big iPhone launch or Apple TV or the long awaited iCar/iHelicopter you might want to take your old iPad to the pawnshop and get some extra cash for a trade. Have you looked at the pawnshops, I mean payday lenders, lately? They seem to be bottoming.
Cash America International, $CSH
Cash America International, $CSH, has had a hard fall lower over the past month but is finding support at the 41.50 level, printing back to back doji candles. As it sits there the Relative Strength Index (RSI) is rolling back higher after touching in oversold territory. Keep a watch on it and enter long on a close over 42.50.
First Cash Financial Services, $FCFS
First Cash Financial Services, $FCFS is also printing back to back doji, the indecision candle. This chart shows that it is consolidating back into the Bollinger bands as the RSI is touching the technically oversold level. A move back over 40.25 is your entry. Don’t cheat.
EZCORP, $EZPW, is the best looking of the bunch, having already put in one good up day Tuesday. The RSI is turning higher after bottoming at 22 and volume is picking up. This one should be at the top of the list. A move over 27 is a safe entry long against the recent support near 26.
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The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.blog comments powered by Disqus
Gregory W. Harmon CMT, CFA, has traded in the Securities markets since 1986. He has held senior positions including Head of Global Trading, Head of Product Development, Head of Strategy and Director of Equity. (More)
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