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Stock Market & Financial Investment News

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March 26, 2014
10:49 EDTIGTInternational Game tumbles to fresh 52-week low, bear pattern
The shares are down over 9.3% to $13.45 at time of writing following yesterday's cut in outlook for its FY14 and Q2. It is possible that there is more downside to come for the shares given a bearish flag pattern that is best scene on a multi-year chart. The flag broke today when shares gapped lower. Based on the preceding down move before the flag, downside potential is to the $12 area over time. It would take a sustained move back above the flag low at $14 for the pattern to be called into question. Resistance is at $14.
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