Chart Glance: CSTR based at a $40.58 early this year, before starting a rally. CSTR closed above the Ichimoku cloud on January 24, but did not indicate a strong buy until it broke above a downward trend line that connects highs from November 2010 with July 2011 and October 2011, on February 12.
A close above $67.56, the high from November 2010, is key to further upside movement.
Coinstar said increased revenue guidance was driven mainly by stronger than anticipated consumer demand at Redbox throughout the quarter. The company also raised its guidance for the full year 2012. Coinstar reported that popularity of movies, such as “Moneyball,” “Puss and Boots,” and “50/50,” as well as lower-than-expected card processing fees helped Q1 earnings.