This stock was a loser in 2005 but may bounce back up in 2006. It might go to bankruptcy or might escape BK.
Some news recently............
Movie Gallery Announces Amendment to Senior Credit Facility
Thursday March 16, 7:00 am ET
DOTHAN, Ala., March 16 /PRNewswire-FirstCall/ -- Movie Gallery, Inc. (Nasdaq: MOVI - News) today announced that it has entered into a definitive amendment to its senior credit facility. Pursuant to the terms of the amendment, among other things, the financial covenants with which the Company must comply have been relaxed for the next four fiscal quarters. In addition, interest rate terms have been increased and certain mandatory prepayment provisions have been modified. Furthermore, the Company's ability to incur indebtedness, pay dividends, redeem its capital stock, make capital expenditures, make acquisitions, and other covenants have been made more restrictive.
UPDATE 1-Movie Gallery wins relief from lenders
Thu Mar 16, 2006 7:48 AM ET
(New throughout)
NEW YORK, March 16 (Reuters) - Video rental chain Movie Gallery Inc. (MOVI.O: Quote, Profile, Research), whose shares have plunged more than 90 percent since June, on Thursday said it has won relief from some financial covenants under its credit agreement, but will be required to pay a higher interest rate.
FACT BOX
MOVI.O (Movie Gallery Inc)
Last: $3.19
Change: +0.22
Up/Down: +7.41%
AprJulOctJan
Quote
Full Chart
Company Profile
Analyst Research
The No. 2 North American video rental chain, which has about 4,800 stores, has been struggling with what analysts call a mediocre crop of films, competition from other forms of entertainment, and growth in online DVD rentals.
Dothan, Alabama-based Movie Gallery said its lenders agreed to amend its senior credit facility to relax financial covenants that Movie Gallery must meet over the next four fiscal quarters.
The amendment also places new restrictions on Movie Gallery's ability to make capital expenses and acquisitions, incur debt, pay dividends and redeem stock. It also modifies some mandatory prepayment provisions.
Chief Executive Joe Malugen said the company plans to "aggressively right size" by closing unprofitable stores, divesting some assets, and cutting back office costs. He said these steps "will help offset the continued softness that we are seeing in the box-office release schedule."
On Wednesday, the company said it hired a real estate restructuring firm to help it sublease space at more than 2,200 stores.
Movie Gallery expects it will be unable to file its annual report with regulators by the March 17 deadline because of delays associated with the amendment, and with an audit following its purchase of Hollywood Entertainment Corp. It expects to file the report by the end of the month.
Movie Gallery shares, which reached $34.13 last June 21, closed Wednesday at $2.97 on Nasdaq.
MOVI UPGRADED.......Target $5
http://www.knobias.com/individual/public/news.htm?eid=3.1.7f99771214424d21b378d9d9c1b914e149486617de9d349faccf415323e85591
MOVI looks like it has a solid chance of a breakout shortly - is completing a pennant formation after the huge jump on earnings earlier this month, and may be set to continue its reversal from the precipitous drop of 2005.
Earnings demonstrated that restructuring and cost saving has been having a significant effect, as they reported quarterly earnings of 1.24 per share from .58/share a year earlier. And this is for a stock currently trading at under $5.
http://biz.yahoo.com/prnews/060511/nyth056.html?.v=44
While there is some uncertainty whether they can maintain this performance, I think MOVI is set for a major reversal in the coming months.
They have also indicated that they would be receptive to some kind of deal with rival Blockbuster -
http://biz.yahoo.com/rb/060511/retail_moviegallery_deal.html?.v=1
whether something like this may go ahead remains to be seen, but it would certainly come at a significant premium to the current pps.
Finally, consider that with a flost of 31.8M shares, as of 10th April, 16.7M or almost 60% of the float was short as of April. While many of those have covered now, hence the squeeze on earnings, I think there is probably still a substantial short interest that could fuel a rally over the coming weeks.
All in all, I think we could have a nice move here in the coming months. Now have a look at the chart. A 2 year weekly chart shows exactly what a precipitous drop MOVI has taken from its high over $34 a year ago to recent lows of 1.68. I would expect that it should easily get back into the 5.50-6.00 trading range it was in at the end of the year. What is bonkers is that there are probably relatively few bagholders in MOVI because such a huge proportion of the float was short. Additionally, apparently an unbelievable 98% of the float is held by instituitons, which have controlled its mvoe south.
Technically, a pennant has formed since the huge gap up that looks to resolve itself today. My bet is that it will resolve itself to the upside (and looking at PM activity, MOVI is sitting at 4.95, but on relatively few shares traded). The technical target of the pennant breakout is 6.10, which sits at the top of the dec-Jan trading range. I think this (and more) is fairly easily achievable, and with such a small amount of shares available in the retail space, if the insty's sit tight, this could really be a rocket.
Will have to wait and see... (disclosure: I bought yesterday at 4.70 - at the high, but i always do that ???)
MOVI under a little weakness but moving up - would lie to see it close above $5!
An interesting article on Shultz Asset Management, who recently increased their stake in MOVI, making them the largest single shareholder. They are currently down on their purchase price, but I doubt for too long - once the recent high of 5.35 is broken, I would expect a significant short squeeze to come into effect.
http://media.seekingalpha.com/article/10840
MOVI continuing to move well - approaching recent resistance at 5.35. This also gets us into Dec-Jan bagholder territory, though I'm not convinced there are too many bagholders left. Short term ascending trendline is holding up nicely, and I am looking for MOVI to get above 5.35 shortly. If it does, it should easily run to $6.
Anyone else got a position in MOVI right now?
Aye Scots, I have a position in MOVI from just under $5.00 and will add if resistance above the $5.35 zone gets taken out.
Nice, nice breakout of recent resistanc zone this Friday. MOVI has a lot of upside, hugely undervalued, stock price been trashed these last few months and is now starting to reverse that trend. Alos has a huge short position of 14M shares. I agree with you Scottish we could see a great turnround here. I am not setting a sell target yet, but will be tightening up my stop over the weekend.
The Street.com republished this article which included this on MOVI. This will add fuel to the fire for next week
http://www.thestreet.com/_mktw/markets/activetraderupdate/10289556.html
"I like Movie Gallery (MOVI:Nasdaq - news - research - Cramer's Take). It got into a bidding war with Blockbuster (BBI:NYSE - news - research - Cramer's Take) for Hollywood Video, which Blockbuster had to concede because of antitrust issues. So, MOVI won. It took over Hollywood Video in Q2 last year, and almost immediately, things turned to spit: integration issues, too much debt and a disastrous box office led to huge volume declines in the rental market. The debt used to finance the acquisition had to be renegotiated and will need to be renegotiated again in the future. No wonder everybody thought it was going bankrupt. So, after three quarters of dreck, it finally printed up a wonderful Q1 last week. 2006 EBITDA was thought to be $200 million or so, which likely means bankruptcy, but Q1 EBITDA was $116 million, and I think it has a very good shot at more than $300 million this year, given: 1) Better box office and rental comps, 2) Finally squeezing some of those promised merger savings and synergies [and] 3) Their backs are against the wall. If it doesn't execute, it goes bankrupt. [The] CEO was the founder of company and still owns more than 10%. If I am right, the stock is probably a triple or quadruple from here."
Wow, this is nice
My MOVI has gained 150% so far. It took 30% of my portfolio money.
First bought at ~$5.5, doubled it at $3.00+, doubled it again at $2.00+.
Check my website at www.whitePineInvest.com:.
I'm going to sell all of it at strength today or in the next few days
and use the proceed to buy AMD: FIRST bought AT $30, will DOUBLE IT AT $20,
DOUBLE it AGAIN at $10. I just buy one stock using tons of money. The stock has to have enough liquidity.
With the gain from MOVI, the portfolio gained 80% this year with only about 15 trades and reached one million dollar mark for the first time within 5 years.
$50,000 initial investment (2001/06), added $140,000 (2004/07). It becomes 1 million dollar portfolio within 5 years.
I am looking for two million within 18 month. I am looking for 100% gain from semi rebound for year end rally.
Nice going ShawFund - haven't seen you aroound here in a while, but that is a pretty good long term return - have always liked your picks and analysis, and you sure had courage to put that much into MOVI, but it really paid off today.
Cheers for the intraday chart too Aussi, I think we've got a live one here. Currently looks to be building strength for a second leg after the first pullback. Am currently lookings at a 50% gain from my buy a couple weeks back, but I think this has more room to run, so will hold for now. Could see an easy 10Mil share day today as shorts get squeezed hard.
You guys got any short-medium term targets? It blew right through my first target of 6.10, and I don't see much resistance above for a loooong way - 12.5? 20? Who knows?
Tomorow Movi open in $7.50 and close im $8/$8.50 ;)
I love this Movi... ;D ;D
Unfortunately, MOVI wasn't quite that bullish jpm, but we do have a nice symmetrical triangle building on the 15 minute chart. Look for a break out of the pattern as it narrows for MOVI's next move ;)
Nice call on the intra chart Scots. I added a 3rd position in MOVI today as it pulled back to the 200sma. I saw this area as real strong support, so my entry was relative low risk as I had a stop on my entire position just below that zone. Now we have:
1) Financial turnround story, undervalued big time
2) Takeover rumours with BBI
3) Cramer pumping (well could be good or bad that ;)
4) Breakout and hold above the 200sma (and 200 ema, I track both)
5) Big volume
6) Big open short position and short covering going on
7) Crappy market with many speculators looking for vehicles to ride (not that many green, so MOVI stands out
This makes for a great speculative 'bubble' around MOVI and 'almost' guarantees continued upward price pressure (nothing is guaranteed in the market though!!) I love the chart set up as well, price gets trashed over a 3 month period, produces a rounded bottom (of sorts), tests recent resistance, breaks through that resistance with all technical indicators blazing.
Because of the above points it is difficulat to set a profit target, so for now I am just tucking up my stop below significant resistance zones, probably with split quantities so that I don't get whipped out of my entire lot.
Good luck anyone in MOVI. Weekly chart below.
BUSINESS SUMMARY
Movie Gallery, Inc. operates as a home entertainment specialty retailer in North America. It owns and operates retail stores that rent and sell DVDs, videocassettes, and video games under Movie Gallery, Hollywood Video, and Game Crazy brands. The Movie Gallery and Hollywood Video brand stores offer a selection of movies and video games for rent and sale. Its Movie Gallery stores carry from 2,700 to 16,000 movies and video games, as well as Hollywood Video stores carry approximately 25,000 movies and video games. The Game Crazy brand stores consist primarily of its Hollywood Video in-store game departments where consumers buy, sell, and trade new and used video game software, hardware, and accessories. Its Game Crazy stores carry approximately 9,000 units of new and used video games, hardware, and accessories for new and legacy game systems. The company also provides new and used game accessories, such as controllers; memory cards; and game media, including strategy guides. As of January 1, 2006, it owned and operated 4,749 stores. The company was formed by Joe Malugen and Harrison Parrish in 1985 and is based in Dothan, Alabama.
First of all, this stock is still in a BULLISH MODE...
so there is no hurry to take short position right now but i'm preparing.... ;)
Positive side
1) bull power still on
Negative side
1) what I noticed in many charts stock will not break the 50sma weekly scale in the first attempt when it came from strong downtrend & I believe that is going to be the major resistance ahead for MOVI.
(I may be wrong) <-------
2) In my opinion the price will top out at least around $8.10 to $8.60 .....from here I'll take short position if I see the technicals go bad on the daily chart ;)
3) 9 sma is being left behind very far on the daily chart ... just look what happened to IFO.
MOVI2
MOVI & IFO
I'm gonna watch MOVI tomorrow for entering short position ;)
3 big white candlesticks <<<<<---------- too much excitement ....
Quote from: Terliso on June 07, 2006, 01:54:36 AM
I'm gonna watch MOVI tomorrow for entering short position ;)
3 big white candlesticks <<<<<---------- too much excitement ....
MOVI went up from 2.60 to 7.57 in just 6 weeks almost
200% :o :o <<<----people will take profits here ;)
I'll pop a copy of that intraday symmetrical triangle breakout up here, as it is such a textbook breakout, its beautiful. I was a little concerned it might break to the downside, with the pressure in the markets yesterday, and wasn't actually around to see it, but I entirely agree Aussi, we're on a rocket ship now, and there appears to be no significant resistance for some way here.
Symmetrical triangle target is (7.36 - 6.30) + 6.85 = 7.90. Lets see what happens when that target gets made. In the mean time, Just let it roll!!
P.S. Terliso has just started up a short thread on MOVI, and he may have a point about resistance at the weekly 50MA, which currently stands at 8.99.
http://www.3stocksonfire.org/trading/index.php?topic=5935.msg64683#msg64683
I don't short stocks, and personally don't think that MOVI will crash out in the same way that IFO has done, but it is worth bearing in mind. I think that the combination of heavy short ratio and strong institutional ownership here should provide strong upward momentum in the short term. It would take an institution dumping its shares in a serious way to pull this down at this stage (which I suppose is entirely possibe if they want to liquidate a position into solid volume).
Will be watching to see if and when you take a short position Terliso. Am currently long this one and up substantially, and think this has a lot more room to run. Technically, we have had some very nice pattern breakouts, and it lo0oks to be in full bull mode (as you mentioned). The high short ration and intitutional ownership would require an insty to start dumping shares in a big way to pull MOVI back down.
Fundamentally, with recent earnings and restructuring, this is still way undervalued here, and I am expecting this to settle in the $12-15 range, so I would be careful about opening a short position prematurely. but traders (including myself) may start booking profits in the coming days, so you may be able to catch a short trem pullback move. For now, I think the 6.90-7.30 area will provide pretty solid support, and may be an appropriate short target if the pull back does come.
Who knows, we may both be right, and I hope we both make money on this one ;)
Quote from: Terliso on June 07, 2006, 12:56:48 AM
2) In my opinion the price will top out at least around $8.10 to $8.60 .....from here I'll take short position if I see the technicals go bad on the daily chart ;)
Hi guys, new to the boards and new to stock trading! Just for future reference, what explanation do experienced traders give when they see a stock experience surges of volume, but the price cannot seem to break above a certain price? I'm looking at the multiple small surges that happened intra-day around 9-10am pst. The stock seems to be bumping heads with the price around 7.50. If a stock lingers for so long, does it mean anything? Again, apologies if this isn't in the right spot to post these questions, but I am slightly invested in MOVI in particular.
Hmmm... didn't like yesterday's action very much, and sold out later in the day at 7.20. Looking for a decent re-entry into MOVI sometime today or tomorrow depending on how the intraday action looks.
At the moment it looks like it could be an ugly day in the markets....
Hey Terliso,
You were right after all, yesterday would have made a good day to enter a short position in MOVI! I sold my shares yesterday afternoon, as the chart started looking like it would take a slide, and we are now $1 below yesterday's opening price. Did you short it in the end? (seems like you have been looking at a lot of short positions lately).
Am looking to re-enter around 6.30 if I get the chance, will see what today brings
Yep, my stops got taken out I had moved them just shy of the $7 zone.
There is still a great upside story going on, but with the markest the way they are got to protect profit first.
OK Aussie, I'll move my posts back over to our (bull) thread.
Was considering re-entry at 6.30 today if possible, but MOVI still looks weak, with not enough buying kicking in at this level. Market is in full-on bear mode today - any thoughts about a decent entry point?
In this market its difficult to call. MOVI trying to hold around $6.30. Just above 200sma.
Quote from: ScottishTrader on June 08, 2006, 10:43:38 AM
Hey Terliso,
Did you short it in the end?
No, the volume is low so I did not trigger my short position.... Though I could have make money if I put a limit order around my opinion price ;)
Quote from: ScottishTrader on June 08, 2006, 10:43:38 AM
(seems like you have been looking at a lot of short positions lately).
Yes, that is my rule #5 ;)
Rule #5: Bulls or Bears - Analyze the direction of the market, trade only at the right side of the market (Long or Short it does not matter as long as you make money
If MOVI hold above the 200MA thru next week. This stock is bound to rebound this year. MOVI FOR LONG.
I got a plug for MOVI on myspace.com of all places.
you are nutz shorting this stock; the float is 50% short already; one bit a news and $10 will be here.
pick another one that isn't so dangeous.
Quote from: lbotez on June 11, 2006, 11:17:39 AM
you are nutz shorting this stock; the float is 50% short already; one bit a news and $10 will be here.
pick another one that isn't so dangeous.
Quote from: Terliso on June 08, 2006, 02:32:40 PM
No I'm not nutz...The volume is low so I did not trigger my short position.... Though I could have make money if I put a limit order around my opinion price ;)
you may have made a few cents off today's market crash, but there are plenty of better shorts out there. This one is sitting on a roman candle.
pick something with BAD news AND market tank.
Not much posting on MOVI lately (probably my fault too) so I thought I would make a quick post. After getting out of my original position around 7.20, I swung this a couple of times, and went long again at the beginning of the week when it hit 5.35 support (Got filled at 5.43).
After the crazy day last week when a bunch of short stops must ahve been taken out, I thought we were off to the races, and held through it, but it would have made a very nice quick swing trade. Anyhoo, right now I think the chart is looking very positive. We have what could very well be a cup n handle formation pretty much developed, with support at 5.85 and below that at 5.35. The last couple days action has been pretty weak while most of the market has rallied, but now the quarter is over, I think we sould see an anticipatory earnings run. While it isn't clear whether they will surprise to the same degree as last quarter, average estimates still are only .08 EPS for the Q, which MOVI should absolutely cream.
Despite the pullback, MOVI looks to be under accumulation at these levels, with the 200MA supporting the pullback and a 200/50 golden cross approaching. With the continued and increasing heavy short interest, there is every opportunity for those shorts to get caught with their pants down. In any case I think many may not risk staying short through next earnings.
Short term I'm looking for a trend change as this consolidation phase moves into pps appreciation, with a break over $7 in the next few weeks. I wouldn't like to see it close below 5.85, and may sell to protect my gain if it does so.
Hello
This stock walks stranger in the past day 27/06,somebody and in one only block,placed an order of 400.000! of purchase to best in full market ace 11 a.m. and the quotation went up in 5 minutes of the 5.53 for the 7.50....another reazon is the profits records told in May 2006 (1.24 per share) and July of 2005 was to quote in $30 and with these results this in 2006 in $6!!!!!! :o :o :o
Force PORTUGAL win world cup soccer in Germany ;)
Quote from: shawFund on June 05, 2006, 10:28:41 AM
My MOVI has gained 150% so far. It took 30% of my portfolio money.
First bought at ~$5.5, doubled it at $3.00+, doubled it again at $2.00+.
Check my website at www.whitePineInvest.com:.
I'm going to sell all of it at strength today or in the next few days
and use the proceed to buy AMD: FIRST bought AT $30, will DOUBLE IT AT $20,
DOUBLE it AGAIN at $10. I just buy one stock using tons of money. The stock has to have enough liquidity.
With the gain from MOVI, the portfolio gained 80% this year with only about 15 trades and reached one million dollar mark for the first time within 5 years.
$50,000 initial investment (2001/06), added $140,000 (2004/07). It becomes 1 million dollar portfolio within 5 years.
I am looking for two million within 18 month. I am looking for 100% gain from semi rebound for year end rally.
Hey Shawfund, did u double ur position on AMD like you said?
Traded MOVI a little while back and still on my radar. Another nice run just taking place and they announce earnings on Thursday pre market. Chart wise MOVI is stuck between a channel created by the 200sma as its base and the 200ema as its ceiling, making lower lows and lower highs since early June. I'm not gonna trade MOVI again yet, and will watch for earnings and subsequent reaction to it. Most likely outcome will be failure at the upper level resistance again, so shorting above $7 with tight stop would be interesting. Wondering if 50sma will support and set up a channel change?
MOVI sent back waiting at that upper channel resistance and now waiting just below. Doji today shows everyone waiting to see which way this is gonna go.
Will watch today and see.
Good Trading
Quote from: AussieTrader on August 08, 2006, 12:32:53 AM
I'm not gonna trade MOVI again yet, and will watch for earnings and subsequent reaction to it. Most likely outcome will be failure at the upper level resistance again, so shorting above $7 with tight stop would be interesting. Wondering if 50sma will support and set up a channel change?
Would have been a nice short MOVI :o
Any-one feel that MOVI will recover at all? Some-one was buying those 20M shares today! I sold most of mine before earnings (luckily) but held on to 100 shares, there has been rumor of a buy-out... perhaps the goods are too damaged now...
Any-one see any reason to hold any?
Cheers Joe
NEWS.............
Movie Gallery Makes $17.9 Million Interest Payment to its Bondholders
Wednesday November 1, 11:50 am ET
Company Anticipates Compliance with All Debt Covenants for the Remainder of 2006
DOTHAN, Ala., Nov. 1 /PRNewswire-FirstCall/ -- Movie Gallery, Inc. (Nasdaq: MOVI - News) today announced that it has made a $17.9 million interest payment to holders of its 11% senior unsecured notes, which are due in 2012. The interest payment to bondholders follows Movie Gallery's $28.4 million term loan principal and interest payment to bank lenders at the end of September.
Although there can be no assurances regarding Movie Gallery's results for the remainder of fiscal 2006 or its ability to complete sales of non-core assets, the Company believes that cash on hand, cash from operations, cash from non-core asset sales, and available borrowings under its revolving credit facility will be sufficient to operate the business, satisfy working capital and capital expenditure requirements, and meet the Company's foreseeable liquidity requirements, including remaining in compliance with the financial covenants contained in the credit facility and debt service for the remainder of fiscal 2006.
Another breakout and retest with something of a cup and handle formation. This is already almost a bag from it's recent low and still more than 1 bag to go to fill that big gap. ;D >:D :o
Bought some of this a couple of weeks ago and more yesterday. Next level of resistance is 3.78...before possible gap play. Volume slowly picking up. Looks good intra-day. Hopefully finishing a cup/handle before new high today...maybe.
MOVI is in the Gap.
Nice close. ;D
MOVI just keeps moving up. ;D
I'm in MOVI since 1.92 for the last three weeks. I've got to love it! But, this is very volatile. It is going to take a nose dive. Don't know when. I'm posting the weekly chart. Notice the nose dive on Aug. 11th.
Quote from: john b mcginnis on December 07, 2006, 12:36:05 PM
I'm in MOVI since 1.92 for the last three weeks. I've got to love it! But, this is very volatile. It is going to take a nose dive. Don't know when. I'm posting the weekly chart. Notice the nose dive on Aug. 11th.
Well any stock has the potential to nosedive...but remember MOVI tanked on an earnings report.
http://www.marketwatch.com/News/Story/Story.aspx?guid=%7b9966A9DE-FF7E-4EFD-825A-FB0FF6135433%7d&siteid=yhoo&dist=yhoo
No earnings report anytime soon to take it down.
MOVI...Moving again. I bought again this week at 4.25 and again at 4.55. Sold it all today...because I had too. :'( Still Bullish.
News has been good on this beaten down stock. >:D
MOVI has been looking pretty strong this week after last week's pullback. They announced that they are purchasing MovieBeam, which will give them a much needed digital delivery stream, allowing them to diversify somewhat from their core bricks and mortar business. In addition to this, they also have refinanced $900M of debt, which they anticipate will generate interest savings of approximately $6M annually, which should add .19c to earnings annually. Obviously, MOVI is a rebound story, and while the main concerns were that it had bit off way more than it could chew with its purchase of Hollywood and would be heading for bankrupcy, it seems that those fears are somewhat allayed. However, MOVi have already indicated that they expect revs for 06 to come in slightly below the streets expectations, and anticipate Q4 revenues of approx. $661M (my estimate based on the last 3 Qs and thier 06 guidance). The real problem with MOVI is whether this will translate into a profit or a loss on the quarter.
OK here is my shot at modelling this quarter's From looking at the data for the last year, Cost of revenue has remained relatively static over the last 3 quarters at about 38% of total revenue. SG&A has risen slightly, but is within the $354M-$366M range. There are also consistantly about $700k in other expenses. Additionally, we have the $10M cost of MovieBeam, although they have stated that this cost should be incremental thoughout 07, so may not impact materially on this Quarter. If we model total revenues of $661M fo Q4, this would give us an operating income (not including the MovieBeam purchase) of:
$661M - (.38 * 661 =) $251.2M - $366M - $.7M = $43.1M
After approximately $32M in interest and other expenses (my best estimate, however, i'm not sure how income tax could affect this) net income av. to comon shares could be something in the region of $11M or .35/sh with 31.84M shares o/s. The average analyst estimate is for the to make .25/sh this Q, so there is potential upside to their estimates. If the bulk of the MovieBeam purchase is factored into this quarter, that will obviously negatively affect the eps numbers. All in all the quarter looks like it should be reasonable, and it is unlikely they will show a loss for the Q, given their current revenue estimates, however, the numbers above are really just my best estimates given the previous quarters data. As earnings are so small relative to total revenues, any change in revenues or significant costs could materially affect earnings numbers. Still, it is important that MOVI should not show a horrendous quarter like the last two.
Technically, MOVI has been on a rip since the beginning of the year, with a sharp uptrend still intact. Some on the Yahoo MBs have suggested that a cup & handle has formed since the december rally. I'm less convinced, as the cup does not have much of a base, and the pullback is too V-like in shape. However, there is no doubt that after the recent flag, the break back above 4.75 does look significant. If MOVI can move into the $5 range in the coming week, then I think we should be seeing new short term highs above 5.25 before long.
By the way, I made my entry earlier last week at 4.75, and will hold with a current stop loss just below 4.35 - a fairly large risk right now, but I'm looking to move this up if we break above $5 this week.
From the look at the chart it seems MOVI has alot of room to grow and it also bounced off the 200dma.
Any other opinions on this one?
I am bringing MOVI back in the picture.
If you look at where it is trading now compared to where it was 1 year ago, I believe it is worth watching again. After last Q results the PPS has been declining but it looks as if she has hit bottom at around 2.35.
Cheers
Forgot the chart ::)
the last one in this video
he is the bast
http://www.stockmarkettradealerts.com/videos/front/video.swf
It's a dying industry. Video rental industry is moving online where Netflix and Movie Star are leading.
sha9999, Created a new Thread. You have been a member since September 19, 2006
So, I would assume you should know to use the Search.......
Thank You
"MOVI" Threads have been Merged.
Please use the search before starting new threads on a Stock Pick.
Chances are a thread already exist.
So why not post whatever you have to comment about on that pick to that thread.
"Simplicity" My fellow traders. ;D
All history on a stock pick in 1 thread is awesome. ;)
Just trying to get threads together,so we don't have a numerous amount floating around on the same stock. :( ::)
Thank You....and good luck with all your trades....make some $$$ ;) ;D
I will leave you today's closing chart while I'm in this thread.......
Changed Ticker Symbol
MOVI is no longer valid. It has changed to MOVIQ.PK
This thread will be moved to the Penny Stock Picking Board due to the fact that it is now a
Pink Sheet listed stock.