Outerwall Inc., through its subsidiaries, provides automated retail
solutions primarily in the United States, Canada, Puerto Rico, Ireland,
and the United Kingdom. Its Redbox segment owns and operates
approximately 43,700 self-service Redbox kiosks in 35,800 locations that
enable consumers to rent or purchase movies and video games, as well as
purchase event tickets. The company’s Coin segment owns and operates
approximately 20,300 self-service coin-counting kiosks in 20,100
locations, which enable consumers to convert their coin to cash, a gift
card, or an E-certificate. Its New Ventures segment focuses on
identifying, evaluating, building, and developing innovative
self-service concepts in the automated retail space, which includes
coffee, refurbished electronics, and photo self-service concepts. The
company’s kiosks are located primarily in supermarkets, drug stores,
mass merchants, financial institutions, convenience stores, and
restaurants. The company was formerly known as Coinstar, Inc. and
changed its name to Outerwall Inc. in June 2013
Please take a look at the 1-year chart of OUTR (Outerwall, Inc.) below with my added notations:
This stock is very simple. OUTR had held a very important level of
support at $65 (blue) for the last 3 months, which was also a previous
resistance. Regardless of what the market has or has not down over the
last few months though, the stock had never broken the $65 level. Well,
this past Friday OUTR broke below the $65 support and should be moving
overall lower from here.
The Tale of the Tape: OUTR had a key level of
support at $65. Now that the stock has broken support, a trader might
want to enter a short trade at or near the $65 level with a stop placed
above that level. A break back above $65 would negate the forecast for a
move lower.
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