CONN’S, Inc. (NASDAQ: CONN)

Conns, Inc. engages in the specialty retail of durable consumer products in the United States. The company's stores offer home appliances, which include refrigerators, freezers, washers, dryers, dishwashers, ranges, and room air conditioners; furniture and mattresses comprising furniture and related accessories for the living room, dining room, and bedroom, as well as traditional and specialty mattresses; consumer electronics, such as LCD, LED, 3-D and plasma televisions, Blu-ray players, home theater and video game products, camcorders, digital cameras, and portable audio equipment; and home office products, including computers, tablets, printers, and accessories. It also provides repair service agreements and installment credit programs, as well as various credit insurance products, such as credit life, credit disability, credit involuntary unemployment, and credit property insurance. As of May 2, 2013, the company operated 70 retail stores, including 58 in Texas, 6 in Louisiana, 3 in Oklahoma, 2 in New Mexico, and 1 in Arizona. Conns, Inc. was founded in 1890 and is based in The Woodlands, Texas.
To review Conns stock, please take a look at the 1-year chart of CONN (Conns, Inc.) below with my added notations:
CONN has formed a solid resistance at $45 (red), which would also be a 52-week high breakout if the stock could manage to break above it. In addition, the stock has been climbing a trendline of support (blue). These two levels combined have CONN sandwiched within a common chart pattern known as an ascending triangle. At some point, the stock will eventually have to break one of those two levels.
The Tale of the Tape: CONN has an up trending support and a 52-week resistance level to watch. A long trade could be made on a breakout above the $45 resistance or on a pullback to the support, which currently sits near $42. A break below the up trending support could be an opportunity to enter a short trade.
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