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IPayment Rounds Out 4-Month Base Pattern.(B)(NASDAQ STOCKS IN THE NEWS)
Byline: Craig Shaw
IPayment is edging up the right side of its four-month base after its May breakout hit a wall. The stock posted gains five of the last six weeks, but only one up week came on above-average turnover. You'd like to see more signs of accumulation before it sets up for a breakout.
The credit and debit card processor said last month that it acquired Transaction Solutions, an independent sales organization with an annual charge volume of $500 million. The deal should add 3 cents to 2005 results. IPayment went public in May 2003 and turned its first annual profit since 1999 the same year.
The stock has attracted ...
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