Stock Chart CSH

Stock Chart Analysis CSH

Cash America International, Inc. (Public, NYSE:CSH)

I like to keep a bullish and bearish watch-list at all times regardless of the current state of the markets. This way, I am ready to take advantage of any counter trend bounces when they emerge. The markets look like they may get a bounce here, so I'm gonna post a chart of a stock that has been holding very well while the markets have been dropping.

CSH has traced out a cup and handle type consolidation and looks like it may be breaking out of the handle. It has been unfazed by the recent market weakness, and on the contrary, is fairly close to all time highs. It had a strong move yesterday, and then held up well during this mornings weak open. It closed near the highs for the day and could be ready to move out as early as tomorrow.

Keep in mind that it is assumed that any rallies we get now are bear market rallies, even with stocks at all time highs. As a trader, I like to keep my targets fairly conservative when betting against the overall trend and much more aggressive when aligned with the trend. This would be a spot where I'm looking to take advantage of an oversold market with a strong stock, with the idea that I will be taking profits in a few days at most.




Good Trading,


Joey

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