NYSE Euronext - NYX - close 27.63 change -0.25 stop 26.69
NYSE Euronext is a global operator of financial markets and provider of trading strategies. The Company offers an array of products and services in cash equities, futures, options, swaps, exchange-traded products, bonds, market data and commercial technology solutions. It is an equities exchange group. As of December 31, 2009, 64 of the 2009 Fortune Global 100 companies were listed on NYSE Euronext. During the year ended December 31, 2009, the Company operated under two segments: United States Operations and European Operations. United States Operations and European Operations consist of providing various services in its United States and European markets. It operates the New York Stock Exchange (NYSE), Euronext, NYSE Liffe, NYSE Arca, NYSE Arca Europe, NYSE Alternext, NYSE Amex, NYSE Liffe US, LLC (NYSE Liffe US), NYSE Technologies, Inc (NYSE Technologies) and SmartPool.
Target(s): 29.35, 29.80, 30.20
Key Support/Resistance Areas: 30.50, 29.40, 27.50, 26.80
Time Frame: 1 week
Why We Like It:
NYX Broke out of a steep downtrend line, rallied to test its 50-day SMA and has now to a key support level near $27.50. The stock has upward trend line from the its 2/5 lows to its 6/8 lows. This has outperformed the overall market by a mile. NYX should also benefit from the FinReg bill and I suggest we play this stock for a bounce. Our stop is below the trend line and our targets are fairy tight and achievable. $29.35 is +6% from current levels.
Suggested Position: Long NYX stock at current levels
Suggested Position: Buy August $27.00 CALLS, current ask $2.05
Entry on July xx
Earnings Date 8/3/10 (unconfirmed)
Average Daily Volume: 3 million
Listed on 6/30/10