Annaly Capital Management
Nearest Resistance: $11.80
Nearest Support: $11
Catalyst: Q4 Earnings
Shares of $10 billion mortgage REIT Annaly Capital Management (NLY) are up 2.7% on high trading volume as I write, buoyed by fourth-quarter earnings that impressed investors. NLY reported earnings per share of $1.07 for the quarter, profits that will directly correlate with Annaly's huge dividend payouts.
Today's move broke shares above resistance at $11, clearing the way for a re-test of $11.80 resistance from October. Investors looking for a chance to buy NLY should consider picking up shares here.