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99 Cents Moves To 5 Cents Off Breakout.(B)(NYSE STOCKS IN THE NEWS)
Byline: Jonah Keri
99 Cents Only Stores briefly crossed its pivot point on low volume Wednesday. The stock cleared its pivot of 31.30, or 0.10 above its April 15 high, the top of its handle. Its handle has been mostly flat rather than downward sloping, but it's formed on light trade, a good sign. The stock is 1% off its high.
On April 18 the discount retailer said it beat first-quarter earnings estimates by a penny. Year-over-year profit grew 29%, up from flat growth five quarters prior. Sales jumped 31% last quarter. They've grown at least 23% in eight of the last ...
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