Replies to post #974 on USA Technologies Inc (USAT)

[FUNMAN]

I bought my first position in USAT several years ago.

I bought and sold many times. I got real lucky a few times.

I snatched up quite a few shares after the Coke lawsuit announcement when the PPS nose-dived from fear. I acted like Buffet and bought when everyone else seemed to be panicking.

Like I said, I got lucky. USAT is not a slam dunk. So keep your eye on it.

It wasn't a good situation they found themselves in, but I also knew it wasn't going to put them out of business. The bad news would pass into the rear view mirror when a settlement was reached. It did.

I always maintained a core position right from the beginning.

[FUNMAN]

USA Technologies (USAT) provides wireless networking, cashless transactions, asset monitoring and other value-added services principally to the small ticket, unattended point of sale market in the U.S. and internationally. This stock traded up 1.6% to $4.38 in Friday's trading session.

Friday's Range: $4.20-$4.39
52-Week Range: $1.70-$4.72
Friday's Volume: 697,000
Three-Month Average Volume: 319,917

From a technical perspective, USA Technologies spiked sharply higher on Friday right of its 50-day moving average of $4.20 a share and back above its 20-day moving average of $4.36 a share with strong upside volume flows. This high-volume rip to the upside is now quickly pushing shares of USA Technologies within range of triggering a major breakout trade above some key near-term overhead resistance levels. That trade will trigger if this stock manages to take out some near-term overhead resistance levels at $4.42 to $4.49 a share and then above its 52-week high of $4.72 a share with high volume.

Traders should now look for long-biased trades in USA Technologies s as long as it's trending above its 50-day moving average of $4.20 a share and then once it sustains a move or close above those breakout levels with volume that hits near or above 319,917 shares. If that breakout fires off soon, then this stock will set up to enter new 52-week-high territory, which is bullish technical price action.