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Sounds kind of dirty, right? Actually, it's because of a clean visual that technical analysts use this term. Technical analysts like charts (hence their nickname of "chartists"), and they like to give certain patterns they see neat little names.
Such is the case with the double bottom, which looks on a chart like, well, a double bottom. Think of three mountains (on a chart reflecting a rise in values) separated by two valleys (representing dips in value). The troughs of the valleys, and the size of the first two peaks, are generally the same, so the chart looks like the letter 'W.' The appearance of those two valleys represents a double bottom.
So what? Well, if you're one of those folks who believes in the power of the charts, seeing a double bottom suggests a long-term trend is about to reverse. So, if a stock chart shows shares falling for several months, then seeing a double bottom, chances are good (according to the chartists) that the shares will rise. And vice versa.
But, beware: charts can be a great tool, but they're more art than science. Use any charts with caution.
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Wednesday, June 11, 2008
Global Payment Technologies, Inc. Announces a One Year Extension of Supply Agreement with Aristocrat Technologies Australia PTY Limited
Comtex
BOHEMIA, N.Y., Jun 11, 2008 (BUSINESS WIRE) ----Global Payment Technologies, Inc. (BULLETIN BOARD SYMBOL:GPTX.OB)(GPT) announced that Aristocrat Technologies Australia PTY Limited ("Aristocrat") renewed its supply agreement with Global Payment Technologies Australia Pty Ltd. ("GPTA") for a one year period ending May 31, 2009. Aristocrat, a Sydney Australia based company, is the second largest manufacturer of gaming machines in the world, and the leader in the substantial Australian gaming market. GPTA is Global Payment Technologies, Inc.'s largest distributor and customer. The Agreement calls for GPTA to be "Preferred Supplier" for the Australian, New Zealand and South African gaming markets for the Xcite range of Aristocrat Product.
Andre Soussa, Chairman of the Board and CEO of GPT stated, "We are pleased to continue to supply Aristocrat. The relationship between GPT and Aristocrat has spanned and developed over ten years. We will continue to ensure that our sales, marketing and engineering teams will work closely with both Aristocrat and GPTA to deliver quality products and service. In addition to this we will endeavor to develop new products, and be particularly attentive to our customer's needs moving forward. We look forward to continuing our relationship with Aristocrat for many years to come."
Global Payment Technologies, Inc. is a United States-based designer, manufacturer and marketer of automated currency acceptance and validation systems used to receive and authenticate currencies in a variety of payment applications worldwide. GPT's proprietary and patented technologies are among the most advanced in the industry. Please visit the GPT web site for more information at http://www.gptworld.com
Aristocrat Leisure Limited (Aristocrat) - (ASX: AU:ALL) is a leading global provider of gaming solutions with over 50 years of industry experience and 2,100 employees. Aristocrat is licensed by over two hundred regulators and its products and services are available in over ninety countries around the world. Please visit the Aristocrat web site for more information at http://www.aristocratgaming.com.
Special Note Regarding Forward-Looking Statements: A number of statements contained in this release are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the applicable statements.
SOURCE: Global Payment Technologies, Inc
Global Payment Technologies, Inc. William McMahon, 631-563-2500, Ext 273 President & CFO
Copyright Business Wire 2008
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