The company released its first earnings report as a public concern last night posting solid EPS and sales increases. Further earnings are expected to continue accelerating for Q4 after allowing for one time charges related to debt refinancing.
The stock has formed a tight initial base after rising 20% from its offering price. Today it is gapping to new highs on the heels of coordinated upgrades by the underwriters.
Price has traded above $23 before pulling back. The resistance point is $22.80. We're taking some shares as price moves back over $22.80 with a stop under $22.
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