International Game Technology (IGT) makes gaming video terminals. State of Illinois just approved putting video gaming devices at licensed liquor establishments. We estimate that this will create demand for about 35000 new devices and International Game Technology will probably sell about 10,000 new devices. Other competitors are WMS Industries, Inc. (WMS), and Bally Technologies, Inc. (BYI).
Our entry zone for International Game Technology is $17. to $18.25. Our stop zone is $15.11 to $15.73 and target zone is $20 to $22.
Caution: as of this writing DJIA is down 146 points. It is always very risky to enter a new short-term long position in a down market. However, if the market stabilizes and the news on International Game Technology gets picked up by the media, there is reasonable probability of a profitable trade here.
This is short-term trade. Long-term investors should not enter here.
We will provide updates on the Real Time Feed of the ZYX Buy Change Alert.
Tiny URL for this post: