Dollar Financial Corp. (DLLR) Could Attempt a Breakout

04/23/2010 12:01 am EST

Focus: STOCKS

While I was writing a column this week on credit service companies, I kept looking back at Dollar Financial Corp. (DLLR). DLLR is an international financial services company serving banked and unbanked consumers. The company provides a range of consumer financial products and services consisting of check cashing, single-payment consumer loans, longer-term installment loans, pawn lending, debit cards, phone/gift cards, bill payment, money orders, money transfers, foreign exchange, gold buying, and legal document processing services.


Click to Enlarge

This chart setup looks great, in my opinion, and I am adding it to the top of my watch list. DLLR is consolidating on lighter volume near the breakout area near $25. I am still a little cautious on the near-term outlook for the markets, so I can't definitively say I will enter this stock, but if I see any strength confirming the prior breakout area as support, I will likely take an entry.

By Joey Fundora, trader and blogger, Downtowntrader Blog

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