Best Close of Year After Gain Backed by Higher Volume - Thursday, March 15, 2012
Best Close of Year After Gain Backed by Higher Volume - Thursday, March 15, 2012
Shuffle Master Inc (SHFL +$0.43 or +2.56% to $17.23) was up today with slightly above average volume for its highest close of the year. It is extended from any sound base pattern. It may produce more climactic gains, but it is outside of the buyable range under the rules-based system. Patient investors may watch for secondary buy points to possibly develop and be noted. It was featured in yellow in the 3/06/12 mid-day report (read here) with heavy volume behind its gain as it technically broke out from the previously noted advanced "3-weeks tight" base pattern with pivot point based on its 2/17/12 high plus 10 cents. No resistance remains due to overhead supply.
The number of top-rated funds owning its shares rose from 247 in Mar '11 to 280 in Dec '11, a reassuring sign concerning the I criteria. The 3 latest quarterly comparisons through Jan '12 showed strong earnings increases (C criteria) above the +25% minimum guideline. Sales revenues growth also accelerated in the latest period. Its annual earnings growth (A criteria) has been strong after FY '09.
