Automobile auctioneer Kar Auction Services (KAR) has broken out of a cup-with-handle base and is hanging around a 39.23 buy point.
The breakout occurred May 4 after the company reported first-quarter earnings that investors liked. It posted adjusted earnings per share of 55 cents, up 17% and beating the consensus estimate of 51 cents. Revenue came in at $745 million, up 18% vs. a year ago and well above the $693 million Wall Street view.