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4 Big Stocks to Trade (or Not)

American Capital Agency

Nearest Resistance: $32
Nearest Support: $31.50
Catalyst: Share Offering

$11 billion real estate investment trust American Capital Agency (AGNC - Get Report) is another stock that's getting sold off in today's session, albeit for a different reason. AGNC is off around 3% this afternoon following a share offering announcement -- the firm announced yesterday that it planned to sell 50 million shares on the open market. Offerings are rarely positive because they indicate a pressing need for cash and dilute existing owners' stakes; Mr. Market is reacting expectedly.

From a technical standpoint, the news derailed the near-term uptrend that shares have been enjoying since November. While that doesn't mean that shares are likely to drop from here (they're very close to support at $31.50), I'd recommend for a floor to get established before jumping onboard this name.

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SYM TRADE IT LAST %CHG
AGNC $20.86 0.92%
GRPN $6.38 -0.39%
MCP $0.53 -7.13%
VALE $6.30 -3.08%
AAPL $130.28 -1.14%

Markets

DOW 18,010.68 -115.44 -0.64%
S&P 500 2,107.39 -13.40 -0.63%
NASDAQ 5,070.0260 -27.95 -0.55%

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