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Nearest Resistance: $12
Nearest Support: $10.50
Catalyst: Good Guidance, Earnings Beat
>>3 Internet Stocks Ready to Move Higher
First up is
Pandora Media(P - Get Report), the Internet radio company that IPO'd last summer. Pandora has been one of the many tech IPOs that flailed after going public, souring investors tastes for newly-public firms. But things just got a whole lot sweeter at Pandora: The firm announced solid guidance as well as break-even numbers for the second quarter, besting Wall Street's expectations. That's sending shares more than 18% higher in early afternoon trading.
technical standpoint, the Pandora trade is a big deal. Today's gap up is pushing shares higher to test resistance at $12, a price that's acted as a ceiling for the last few months. If this stock can catch a bid and close above $12, I'd recommend being a buyer in the short-term at least.
Pandora was also featured earlier this week in "
5 Stocks Set to Soar on Bullish Earnings."