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Cardtronics(CATM - Get Report) provides automated consumer financial services through its network of automated teller machines and multi-function financial services kiosks. This stock is trading up 3% at $29.62 in recent trading.
Today's Volume: 582,000
Average Volume: 371,463
Volume % Change: 115%
Shares of CATM are moving notably higher today after analysts at Credit Suisse upped their price target to $32 per share and maintained an outperform rating on the stock.
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From a technical perspective, CATM is moving sharply higher here after the stock gapped up big on Tuesday. This move has pushed CATM into breakout territory now that the stock has taken out some past overhead resistance at $28.50 to $28.74 with strong volume.
Traders should continue to look for long-biased traders if CATM can manage to close near its daily highs, and continue to tend above those key breakout levels with strong upside volume flows. I would consider any upside volume day that registers near or above 371,463 shares as bullish. If we continue to see this action, then CATM can easily trade into the mid-$30s in the near future.
I would look for short-biased trades only if CATM moves back below its gap low of $27.50 with high-volume.