Wednesday, August 14, 2013

FleetCor Technologies, Inc. (NYSE: FLT)

FleetCor Technologies, Inc. provides fuel cards and workforce payment products and services to businesses, commercial fleets, oil companies, petroleum marketers, and government entities in North America, Latin America, and Europe. It sells a range of customized fleet and lodging payment programs; and offers various card products to purchase fuel, lodging, and related products and services at participating locations. The company also offers equipment that reduces unauthorized and fraudulent transactions to over-the-road trucking fleets, shipping fleets, and other operators of heavily industrialized equipment, including sea-going vessels, mining equipment, agricultural equipment, and locomotives. The company owns and operates proprietary closed-loop networks through which it electronically connects to merchants, and captures, analyzes, and reports customized information. In addition, FleetCor Technologies, Inc. uses third-party networks to deliver its payment programs and services; and provides a range of services, such as issuing and processing, as well as specialized information services.
Please take a look at the 1-year chart of FLT (FleetCor Technologies, Inc.) below with my added notations:
1-year chart of FLT (FleetCor Technologies, Inc.) FLT has a very important price level at $80 (navy) that has been acting as support for the last (3) months. The stock also has a level of resistance that seems to be forming at $90 (red). Prior to the $80 and $90, FLT had reacted to $70 (green) back in February March and April. So, in addition to showing a clear level of support and resistance, FLT is also demonstrating that it tends to react to each $10 increment.
The Tale of the Tape: FLT is currently trading between its $80 and $90 levels. A long position could be entered at $80 or on a break above $90 with a stop placed below the level of entry. If FLT breaks below $80, another long play could be made at $70. If you are looking for a short trade instead, a break below $80 would provide you with that opportunity.
Please share this article

No comments:

Post a Comment