Annaly Capital (NLY) May Bounce Higher After Hitting Key Support Level
Tweet Send to a FriendGet Alerts NLY Hot Sheet
Up)
Trade NLY Now!
Annaly Capital Management (NYSE: NLY) shares have slipped over the last two trading sessions following third-quarter results and appointment of a new CEO on Monday. Shares are own just under 9 percent since the close on Monday.
But, the worst might be over. Looking at a chart of the last year, Annaly has shown some strong support at the $14.50 level, right where it's trading today. Most of the action takes place last March and April.
If Annaly breaches $14.50, the next logical support might be $13.50, seen following a sharp drop in October 2011.
Volume on the session is heavy once again, with 19 million shares trading hands at noon. About 33 million traded yesterday, compared with the daily average of 12.7 million. Shares are down 4.8 percent on the session.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
But, the worst might be over. Looking at a chart of the last year, Annaly has shown some strong support at the $14.50 level, right where it's trading today. Most of the action takes place last March and April.
If Annaly breaches $14.50, the next logical support might be $13.50, seen following a sharp drop in October 2011.
Volume on the session is heavy once again, with 19 million shares trading hands at noon. About 33 million traded yesterday, compared with the daily average of 12.7 million. Shares are down 4.8 percent on the session.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- J.P. Morgan (JPM) CEO Dimon Might Have Enough Votes to Stay Chairman - NY Times
- UPDATE: GameStop (GME) Slides Into Close
- UPDATE: Cubist Pharmaceuticals (CBST) Spikes to Session Highs
Create E-mail Alert Related Categories
Technicals, Trader Talk
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
