Ripe & Fresh
IBD points out Cantaloupe.
The 5% buy zone from just above 6.22 goes up to 6.53. So, CTLP shares quickly rose out of the ideal buy zone and have gotten extended.
Plus, Cantaloupe has now reached the 20%-25% profit zone, a good time to take at least partial gains.
Recently, the stock not only took back all of its declines in May. It also kept the new breakout intact. On June 1 and 2, the stock advanced in above-average volume, a sign of unusually healthy demand.
Plus, the 10% gain in the week ended June 9 came in accelerating weekly turnover. That's another telltale sign of healthy and strengthening demand among institutional investors.
Cantaloupe made the IBD Stock Screener as one among 136 stocks with a top Composite Rating and trading under $10 a share. That rating has stayed stable for days at 89 but has now edged up to a sterling 91. The 96 Relative Strength Rating is rising again and healthy.
The stock's relative strength line powered into new high ground last month — a classic sign that CTLP is sharply outperforming the S&P 500. The RS line has since cooled off a bit.
Cantaloupe does not sell fruit. The Malvern, Pa., firm provides both hardware and software for the self-service business market. Its Three Square Market product is a "one stop shop for everything micro markets." Cantaloupe's Seed Live software helps users track and analyze sales information in real time.
Shares roared after Cantaloupe reported a 200% spike in fiscal second-quarter earnings to 9 cents a share. Sales rose 20% to $60.4 million. The firm lost a cumulative 16 cents a share in the prior three quarters. However, Wall Street sees Cantaloupe posting earnings of 7 cents a share in the fiscal year ending in June.
CTLP's market value has surpassed $550 million. The small cap holds 72.5 million shares outstanding and a float of 57.2 million freely traded shares.
SOUNDS YUMMY-!
THIS IS MY ONLY STOCK ON PATHETIC WATCH LIST!!! HELP!!!!!!!!!!!
Cantaloupe, Inc. (CTLP)
NasdaqGS - NasdaqGS Real Time Price.
7.96+0.09 (+1.14%)
At close: June 30 04:00PM EDT
8.25 +0.29 (+3.64%)
