IGT To Test $43 Highs?

Posted by Blain Reinkensmeyer on Monday October 30, 2006

I am posting on Intl Game Technology (IGT) to bring the stock to your watch lists as the stock is setup for a potential move back to test $43 highs set late in September (see chart below).

IGT 103006.JPG

I posted on IGT back in early October here on the blog, and have kept it on my close watch list since. Friday was an accumulation day and showed a price spread to a $42.93 high on the day. Today the stock is up on lighter volume, but is maintaining its stability and is setting up the back side of what could be called a small base. So, add this stock to your watch lists, and look to buy in when the stock breaks $43 ($43.10 buy price) on higher than average volume. The stock is #2 in the Leisure-gaming/equip IBD Industry Group behind Las Vegas Sands (LVS), which reports earnings this week.

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Pingback by Stock Trading 101 » Blog Archive » Las Vegas Sands (LVS) Earnings Watch
2006-10-31 11:31:19
[…] Now, LVS has had a very nice run this year, and is in a nice base set to break to new highs with a positive release tomorrow. As some of you may know based on my post yesterday, LVS will most likely set the tone for IGT’s earnings release next week. So, bottom line is be catious if you are looking to play LVS for earnings tomorrow, and expect strong movement one way or another. Share and Enjoy:These icons link to social bookmarking sites where readers can share and discover new web pages. […]
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