EZCORP, Inc. provides specialty consumer financial services. The
company offers pawn loans that are non-recourse loans collateralized by
tangible personal property, including jewelry, consumer electronics,
tools, sporting goods, and musical instruments; sells merchandise
comprising second-hand collateral forfeited from its pawn lending
activities or purchased from customers, and new or refurbished
merchandise from third party vendors; and buys and sells second-hand
goods. It also provides various financial services, such as unsecured
consumer loans, including single-payment loans, multiple-payment loans,
lines of credit, and payroll withholding loans; secured consumer loans
comprising single-payment and multi-payment auto title loans, and auto
title line of credit; and debit cards. In addition, the company offers
payroll deduction loans and online loans; fee-based credit services to
customers seeking loans; and advice and assistance to customers in
obtaining loans from unaffiliated lenders.
To review EZ’s stock, please take a look at the 1-year chart of EZPW (EZCORP, inc.) below with my added notations:
EZPW has formed a key price level at $12.00 (blue) over the last (2)
months. You can see how that level has been both a current support and
prior resistance. In addition, the stock has created a down trending
resistance starting from the middle of February (red). These two lines
combined have EZPW stuck trading within a common chart pattern known as a
descending triangle (or a pennant). At some point, the stock has to
break support or break its string of lower highs.
The Tale of the Tape: EZPW has formed a descending
triangle pattern. A short trade could be made on a break of the $12
support level. A breakthrough $13 would break the down trending
resistance and would set up a potential long trade.
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