Armour Residential REIT
Nearest Resistance: $7.10
Nearest Support: $6.30
Catalyst: Estimated Results, Share Offering
Mortgage REIT Armour Residential REIT (ARR) is getting a volume spike today after the firm announced its preliminary results for the fourth quarter of 2012 as well as pricing for a 65 million share offering. Normally, only around 4 million shares of ARR change hands on any given day -- but as of midday, around 70 million shares had already been traded.Part of activity in ARR is coming from the drop in shares as a result of the news. As I write, ARR is off by around 5%, sitting midway in between support and resistance for shares. That middle ground isn't necessarily a good thing; it means that there's still a fair amount of risk before ARR can comfortably catch a bid.
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