Short: Conn’s Inc. (CONN)
From Shortex Market Letter
Conn’s Inc (CONN)
52wk H. 37.80 52wk L. 14.45
Mkt Cap: $794M EPS: 0.20, P/E: 126, Beta: 0.46
The operator/retailer of specialty goods: electronics and furniture. Being faced with anticipated negative earnings for the current Qtr ‘18. Causative for lower yearly estimate from $2.42/shr to $2.24/shr. Erratic technical pattern where attempt to refill the recent plunge (29-25) below 200-DMA: does not fare well.
Falling from 52-week high of 37.80, with reversal challenging upper-head resistance at (35-37). Sank with heavy volume with repeated plunges: 1st (34-30), 2nd (29-26).
SHORT RANGE: 25-28
COVER SHORT: 14
STOP LOSS: 31
Joseph Parnes, Shortex Market Letter, www.shortex.com, 800-877-6555, April 27, 2018