GTK - GTECH Holdings Corp $33.79 +1.19 (+1.55)
GTECH is living up to the "tech" in its name. This online lottery purveyor started the week in splendid fashion by achieving new highs that were correlated with strong buying in the technology sectors. Today's move was particularly impressive because volume was excellent at 600,000 shares, which was more than twice the average daily volume of 287,000 shares. This heightened activity is indicative of strong buying from the momentum crowd. One potential entry point could present itself tomorrow if GTK moves above $34.30 accompanied by midday volume exceeding 150,000 shares. That said, it is important to note that the RSI is indicating an extremely overbought condition. The last time the RSI was at a similar level, the stock traded sideways for a few days and then pulled back. Therefore, we have raised our stop to $32.00. In the meantime, enjoy the ride should GTK continue to make new highs.
Picked on April 22nd @ $29.79
Change since picked +4.00
Stop Loss $32.00
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