Long Position on IGT @ $19.60 on 6/22/2016 (Momentum)

International Game Technology PLC (IGT) operates and provides technology products and services across lotteries, electronic gaming machines, sports betting, and interactive gaming markets worldwide.

It offers a suite of lottery-enabled point-of-sale terminals; online lottery transaction processing systems; supplies instant ticket games; and printing services, instant ticket marketing plans and graphic design, programming, production, packaging, and shipping and delivery services. The company also provides video lottery terminals (VLT), VLT central systems, and VLT games to government customers; video and traditional mechanical reel slot machines and casino systems to casino operators; and amusement with prize machines and games to licensed operators, as well as designs, develops, manufactures, and provides cabinets, games, systems, and software in legal gaming markets.

In addition, it is involved in the provision of sports betting platform that offers betting on sporting and motor sports events, as well as non-sporting events; and interactive gaming (or iGaming) that enables game play through the Internet, such as Internet poker, table games, slots, bingo, iLottery, and gaming management systems.

Further, the company provides transaction processing of commercial transactions, such as prepaid cellular telephone recharges, prepaid mobile data, collection and payment services for the payment of utility bills, money transfer services, ticketing for sporting and musical events, credit card transactions, social security contributions and payments, and prepaid cards.

Additionally, it offers collection, and processing and network services on behalf of third parties; and issues electronic money through immediate conversion of funds received. 

Shares have formed a bullish "cup and handle" and higher share prices are expected for this stock.

52-Weeks Trading Range: $12.48 - $20.03

Entry Point: $19.60

Stop Loss: $18.60

Target Price: $21.56

Updates

6/30/2016 11:11:20 AM

IGT closed at $18.41

Position closed on 6/30/2016 at price of $18.41 with a -6.07% loss in 8 days.

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