NEW YORK (TheStreet) -- There are various businesses that you may decide to steer clear of based on personal beliefs, but I believe investors should keep an open mind on new ideas.
Cash America International (CSH) might be shunned by a so-called socially responsible mutual fund, but the chart is attractive and the storefront lending and check-cashing business model has been around forever.
This long-term chart of CSH, above, tells at least two stories. First, CSH is not recession-proof as prices slumped in 2008-2009 to $5 from $20. Second, CSH bounced off $15 in 2013 and 2014 and is now breaking out to new highs.
In this short-term chart, above, of CSH, we can see how the $28 level capped the rallies since May. Chartists call this resistance. Now that CSH has clearly broken out above the resistance at $28, the $28 level should act as support as the roles reverse. Our upside target for CSH is $41, which we get by adding $13, the height of the consolidation, to the breakout at $28.