liroff
03-30-2006, 11:47 AM
Hi All,
I would like to share with you a stock I follow that looks poised for a price break-out tomorrow.
Wall Street players love to take risks, so it is no surprise that the gambling industry is leading a Bull stampede through the stock market! With March Madness in full force, real estate booming in Las Vegas, and the World Series of Poker coming this summer, the stock market is wagering heavily that gambling will continue to make big money in 2006!
One of the reasons for the resurgence of gambling has to be attributed to the popularity of online poker, a craze which would not be possible without companies like CryptoLogic, Inc. (CRYP)! CRYP develops and provides online gaming software and services to the global Internet gaming market, in particular licensing, e-cash management, and customer support services for its gaming software suite of casino table and slot games. Thanks to the popularity of online poker, CRYP ended 2005 with record highs in revenues and earnings, and should build on that success to the tune of 20%+ EPS growth in 2006!
Now, CRYP’s growth will not continue forever. Once the poker craze slows down, as it inevitably will, CRYP’s day in the sun will be over. But that does not mean we cannot make money in CRYP right now--especially in the next few days! CRYP is currently showing signs of a powerful, imminent technical price break-out. I have attached an image file to this post with a detailed and annotated graph that illustrates the formation I forsee resulting in a price break-out. Click on this link to view the graph (http://www.cramersmadmoney.com/attachment.php?attachmentid=28&stc=1&d=1143736548) as I analyze this potentially explosive pattern. If you have trouble viewing the graph clearly, I suggest you visit StockCharts.com (http://www.stockcharts.com) and request a chart for CRYP.
As the 3-month chart of CRYP shows, at the beginning of February CRYP underwent a significant retracement before (1.) finding support at its 50-day moving average and (2.) finding further support at its 20-day moving average. At the same time, (3.) the MACD flashed a bullish crossover buy signal and (4.) RSI was rising. Immediately thereafter, (5.) the stock posted a 25% price break-out!
Since the beginning of March, we have seen a similar pattern begin to play out in CRYP. The stock retraced its gains from the previous break-out before (1.) finding support at its 50-day moving average and (2.) finding further support at its 20-day moving average. Now, the stock is (3.) on the verge of a MACD crossover on (4.) rising RSI. The only thing left for the formation to complete itself is (5.) a significant price break-out!
The next price break-out for CRYP appears to be imminent, which is why I just purchased shares in the stock. The company is fundamentally sound and the technicals are very bullish. I am by no means a technical expert, but this looks like another unbeatable situation (see my previous technical post on Ameron (AMN) (http://www.cramersmadmoney.com/showthread.php?t=2724&highlight=ameron)).
Thought you would all enjoy the heads up!
Sincerely,
Alexander Liroff
iBeatTheStreet.com (http://ibeatthestreet.com)
I would like to share with you a stock I follow that looks poised for a price break-out tomorrow.
Wall Street players love to take risks, so it is no surprise that the gambling industry is leading a Bull stampede through the stock market! With March Madness in full force, real estate booming in Las Vegas, and the World Series of Poker coming this summer, the stock market is wagering heavily that gambling will continue to make big money in 2006!
One of the reasons for the resurgence of gambling has to be attributed to the popularity of online poker, a craze which would not be possible without companies like CryptoLogic, Inc. (CRYP)! CRYP develops and provides online gaming software and services to the global Internet gaming market, in particular licensing, e-cash management, and customer support services for its gaming software suite of casino table and slot games. Thanks to the popularity of online poker, CRYP ended 2005 with record highs in revenues and earnings, and should build on that success to the tune of 20%+ EPS growth in 2006!
Now, CRYP’s growth will not continue forever. Once the poker craze slows down, as it inevitably will, CRYP’s day in the sun will be over. But that does not mean we cannot make money in CRYP right now--especially in the next few days! CRYP is currently showing signs of a powerful, imminent technical price break-out. I have attached an image file to this post with a detailed and annotated graph that illustrates the formation I forsee resulting in a price break-out. Click on this link to view the graph (http://www.cramersmadmoney.com/attachment.php?attachmentid=28&stc=1&d=1143736548) as I analyze this potentially explosive pattern. If you have trouble viewing the graph clearly, I suggest you visit StockCharts.com (http://www.stockcharts.com) and request a chart for CRYP.
As the 3-month chart of CRYP shows, at the beginning of February CRYP underwent a significant retracement before (1.) finding support at its 50-day moving average and (2.) finding further support at its 20-day moving average. At the same time, (3.) the MACD flashed a bullish crossover buy signal and (4.) RSI was rising. Immediately thereafter, (5.) the stock posted a 25% price break-out!
Since the beginning of March, we have seen a similar pattern begin to play out in CRYP. The stock retraced its gains from the previous break-out before (1.) finding support at its 50-day moving average and (2.) finding further support at its 20-day moving average. Now, the stock is (3.) on the verge of a MACD crossover on (4.) rising RSI. The only thing left for the formation to complete itself is (5.) a significant price break-out!
The next price break-out for CRYP appears to be imminent, which is why I just purchased shares in the stock. The company is fundamentally sound and the technicals are very bullish. I am by no means a technical expert, but this looks like another unbeatable situation (see my previous technical post on Ameron (AMN) (http://www.cramersmadmoney.com/showthread.php?t=2724&highlight=ameron)).
Thought you would all enjoy the heads up!
Sincerely,
Alexander Liroff
iBeatTheStreet.com (http://ibeatthestreet.com)