Coinstar (CSTR) Looking Precarious

CSTR is off 15% or $10 since December 13th.  Shorter term moving averages are clearly pointing down and just crossed the rising 50 day moving average.  While volume hasn't been anything extraordinary, what's sticking out at me on this chart is the large 9 point gap looming below $55.

Regardless, I most likely won't be putting on a trade here before the new year unless it falls apart quickly, especially as I already am short call options on NFLX…and they have similar businesses. 

Watch More:

Leave a Reply

Your email address will not be published. Required fields are marked *